TPR on the warpath — two recent cases in profile

Chris Edwards-Earl looks at the regulator’s Pension Schemes Act 2021 powers in practice

clock • 3 min read
Chris Edwards-Earl
Image:

Chris Edwards-Earl

As the pensions industry is aware – due to constant updates, webinars and, even in some cases, direct intervention –  the Pension Schemes Act 2021 widened the circumstances in which The Pensions Regulator (TPR) can use its moral hazard powers (principally contribution notices (CNs) and financial support directions) and granted TPR stronger powers to investigate and sanction wrongdoing.

The potency of the new powers and the high-level guidance released to the market led to uncertainty over how TPR would wield these new powers. TPR has always preferred to guide by example, however,...

To continue reading this article...

Join Professional Pensions

  • Unlimited access to real-time news, analysis and opinion from the industry
  • Receive our in-depth monthly magazine in either print or digital format
  • Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
  • Receive important and breaking news stories selected by the Editors in our daily newsletter
  • Hear from industry experts and other forward-thinking leaders
  • Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date

Join now

 

Already a Professional Pensions member?

Login

More on Regulation

Industry Voice: The new code of practice - we're all in this together

Industry Voice: The new code of practice - we're all in this together

Now is an ideal time for schemes to stop looking at governance in isolation

8,395 amber warning flags were raised between December 2021 and October 2022

DWP urged to overhaul pension transfer rules in bid to clarify amber flag rationale

Data from Maps shows the reasons for majority of amber flags were unclear

Martin Richmond
clock 12 January 2023 • 3 min read
David Fairs: Long-term planning and risk management remain key tenants of good scheme management across all market conditions

TPR sets out thinking as it prepares to launch second DB funding code consultation

David Fairs says long-term funding remains key part of the watchdog’s approach

David Fairs
clock 14 December 2022 • 4 min read
Trustpilot