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Brightwell comments on the Government’s response to the Trustees and Governance consultation

Brightwell has welcomed government plans to increase regulatory oversight of pension scheme administrators and strengthen trustee capability, while maintaining a proportionate approach to reform.

On administration, Morten Nilsson, CEO of Brightwell, said: “Good administration is the bedrock of well-run pension schemes and integral to trust in the pension system.

“Greater regulatory oversight of administrators is long overdue, and we warmly welcome the measures announced today, which will help raise minimum standards and strengthen confidence across the market. Over time this will help improve operational resilience and the ability to transfer administrators more easily.

On governance, Morten said: “The pensions landscape is evolving at pace, and trustees need the right knowledge and skills to navigate an increasingly complex legislative and regulatory environment. The demands placed on them will continue to grow as the sector consolidates and evolves.

“The key is proportionality and the measures announced appear to strike the right balance.

“Raising standards should not mean creating barriers that deter talented people from trusteeship. The strongest boards bring together professional expertise, specialist knowledge, member insight and diversity of thought. Reform should strengthen that model rather than narrow it.”