The cash of millions of pension savers will be better protected, under plans announced alongside the Queen's Speech.
Fears
had been expressed that people who pay into some auto-enrolment
pensions could lose their money, should their scheme collapse.The Pensions Bill will provide for stricter supervision of so-called master trust schemes by the regulator.
In February, an investigation by the BBC found that dozens of master trusts were too small to survive.
Experts said up to a quarter of a million people were at risk of losing their savings.
The bill will give the Pensions Regulator (TPR) greater powers to authorise the schemes and step in where necessary.
Read more: http://www.bbc.co.uk/news/business-36323003
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