Buzz: Trust DB trustees to self-certify

clock • 1 min read

A quarter of respondents thought the Department of Work and Pensions proposals to allow defined benefit schemes to self-certify for auto-enrolment would be unworkable, while a third disagreed.

Several respondents thought trustees of well-run schemes should be trusted to self-certify and welcomed any reduction in red tape.

p17-chart-4

 

"It stands to reason that if a DB scheme has survived this long it must be well-run," said one commentator. "What's wrong with allowing a well-run scheme to self-certify?"

Another contributor added: "Some people fear any reduction in bureaucracy. Surely it is only polite to be nice to DB schemes during their twilight years of protracted ill-health with only an eventual death in front of them."

But others worried about a potential lack of accountability. One contributor warned: "It is all very well and good to keep things in house but, when things go wrong, who is there to safeguard things? Remember Maxwell?"

More on Law and Regulation

Legal interpretation argues trustees can take broader view of fiduciary duty

Legal interpretation argues trustees can take broader view of fiduciary duty

Eversheds Sutherlands and NatWest Cushon say it is ‘reasonable’ for trustees to take cost of living factors into account

Jonathan Stapleton
clock 06 March 2025 • 3 min read
FCA private markets review raises valuation concerns

FCA private markets review raises valuation concerns

Regulator calls for improvements across several areas in process

Laura Miller
clock 05 March 2025 • 4 min read
SPP: Government must move forward with adequacy review

SPP: Government must move forward with adequacy review

Sophia Singleton says we need the review in order to be honest with savers about what lies ahead

Sophia Singleton
clock 17 February 2025 • 3 min read
Trustpilot