TPR launches an online scheme maintenance system

The Exchange system will allow pension schemes to share information with the regulator and make changes to their details when necessary.

The regulator said Exchange had been created to make updating scheme information easier and to move from a paper-based system to an online one.

It said in a statement: "Exchange has been created so that schemes can input data as and when they need to, and information that was previously requested via paper forms can now be provided to the regulator online.

"Using the Exchange scheme maintenance system, schemes will be able to update their details as and when changes occur. Exchange has been designed to make it easy to update scheme details, and will enable the regulator to hold the most up-to-date and accurate information."

The online system allows people to register new occupational schemes, make changes to scheme details, apply for a waiver against the regulator’s general levy and inform the regulator once a scheme was been wound up.

The regulator said from June schemes would be able to pay their levies online by direct debit or debit card. The new system follows on from the success of the online scheme return system.

The new system follows on from the success of the online scheme return system.