The Pensions Regulator has urged scheme trustees to “remain vigilant” to short-term market volatility, but keep an overall focus on the “longer term” in the wake of Britain’s vote to leave the EU (Pension Planning).
In a guidance statement to trustees and company sponsors of workplace schemes, the regulator said “our key message to trustees and sponsors of occupational vigilant and review their circumstances, but continue to take a considered approach to action with a focus on the longer term.” (Pension Planning).
While the referendum has had no regulatory impact, the Pension Regulator said it would “continue to monitor the markets and other economic developments “and update pension schemes when necessary.
It added: “We will also continue to engage with European Insurance and Occupational Pension Authority, while we wait for further clarity as to the nature of the UK’s future relationship with the EU and any transitional arrangements.
(FT Adviser, 2016)
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