‘We are pleased to see that the Government is finally delivering on its commitment to raise standards among master trust pension schemes.
‘All scheme members need to have the assurance that their pension provider is competent and reputable. Sadly, this hasn’t always been the case for some master trusts.
‘The new regulations should help to build confidence among members. It will now be down to the Pensions Regulator to ensure that it uses these new powers effectively to raise standards where needed and to de-authorise those master trusts who are falling short of their compliance requirements.’