TPR undertaking internal review after Norton Motorcycles case

Jonathan Stapleton
clock • 1 min read

The Pensions Regulator (TPR) chief executive Charles Counsell has written to Work and Pensions Committee (WPC) chairman Stephen Timms responding to questions over how the watchdog handled issues around the Norton Motorcycles pension schemes.

The comes after the WPC sent TPR a letter following The Pensions Ombudsman's decision to uphold complaints relating to the Norton Motorcycles pension schemes. 

Counsell said TPR was, as a result of the issues raised, undertaking an internal review to identify if there are lessons to be learned in how it addresses conflicts of interest.

He noted however that, while the regulator does not have the resources to review every small scheme, it does intend to do more work in the future looking at the governance issues around smaller pension schemes.

Responding to the letter, Timms said: "TPR's own research has shown the governance standards of small pension schemes to be consistently lower than their larger counterparts. Setting up small schemes has provided opportunities to scammers in the past and we will be looking at this in more detail in our upcoming inquiry." 

The WPC announced it would investigate pension scams in July as the first strand of a three-part inquiry into the impact of the pension freedoms and the protection of pension savers.

More on Law and Regulation

Targeted support 'cannot come soon enough' for workplace pensions

Targeted support 'cannot come soon enough' for workplace pensions

Easing the regulatory regime could ‘unlock the gates’ to support those not accessing advice

Jonathan Stapleton
clock 30 June 2025 • 2 min read
FCA unveils targeted support plans

FCA unveils targeted support plans

Regulator also asks trustees for views as to how they might want to provide targeted support

Professional Pensions
clock 30 June 2025 • 3 min read
PRAG consults on pensions SORP amendments

PRAG consults on pensions SORP amendments

Move follows FRC amendments to FRS 102 as well as changes to legislation and regulation

Jonathan Stapleton
clock 24 June 2025 • 1 min read
Trustpilot