Buzz: TPR reliance on seconded staff no big deal

clock • 1 min read

Contributors were pretty relaxed about The Pensions Regulator's reliance on staff seconded from major consultants. Although a third were worried about the conflicts of interest that could arise from these arrangements the majority thought the benefits outweighed the risks.

buzz-5-160513

Several contributors pointed to the difference in circumstance between TPR and HM Revenue and Customs. One respondent said: "The regulator does nothing that pension specialists wish to game on behalf of our clients so there is nothing for us to manipulate so no risk."

Another contributor who saw no risk in the arrangement said: "A secondment would equate to a massive saving for TPR compared to engaging with firm directly, so what would the problem be?"

"An exposure to reality from both perspectives can only improve understanding and communication," said another supporter.

But a more sceptical contributor warned: "Consultants will influence regulations and TPR operations to benefit consultants. Not necessarily schemes. Has anyone thought about seconding actual practitioners?"

Other warned of conflicts and "cronyism", while once contributor said the advent of TPR had been a "bonanza for advisers".

"The covenant reviews which TPR is ordering trustees to commission from accounting firms are a scandal," they said.

More on Law and Regulation

Four 'lucrative areas' for Budget pension reform

Four 'lucrative areas' for Budget pension reform

Treasury could move on tax-free lump sum, tax relief, salary sacrifice or annual allowance in hunt for Budget savings

Jonathan Stapleton
clock 20 August 2025 • 8 min read
PPI – The urgent need for action on adequacy

PPI – The urgent need for action on adequacy

Priya Khambhaita says current minimum contribution rates mean many retirees will not have the DC assets they need.

Dr Priya Khambhaita
clock 19 August 2025 • 3 min read
Thousands of pension scam victims receive more than £80m in compensation

Thousands of pension scam victims receive more than £80m in compensation

Compensation awarded to more than 2,000 members of 58 schemes targeted by fraudsters

Martin Richmond
clock 19 August 2025 • 3 min read
Trustpilot