Regulator announces plans for pensions calculator

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Regulator announces plans for pensions calculator

Thu 5th May 2011

The Pensions Regulator has announced plans to release its new plan offering advice to employers about standards.

Management teams will be given the chance to prepare for automatic enrolment and focus on investment challenges within areas of the defined benefit landscape.

The Corporate and Business plan 2011-14 will address risks to retirement investment and the Pension Protection Fund.

Proposals also include working with administrators and other service providers to improve standards in record keeping.

Chair of the Pensions Regulator Michael O'Higgins said: "In the next few months we will be publishing education material, including simple, web-based tools, to help employers of different sizes, intermediaries and advisers prepare for changes in pensions law."

This news comes after the organisation revealed it had been asked to prepare plans for a 25 per cent reduction of its cost base, the Financial Times reports.

The cuts will most likely be made to the Pension Regulator's planned budget for 2011 and 2012.

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