The Pensions Regulator’s corporate plan 2017-2020
28 April 2017
The Pensions Regulator’s corporate plan 2017 - 2020 sets out what we can expect from them over the next three years.
An excerpt from the report’s foreword:
“The next few years will undoubtedly present challenges for all involved in the pensions industry. There will be continued economic and political uncertainty, social and demographic changes and an ongoing focus on the role of pensions in our society.
As a result of a number of high profile cases in the past year, some of which involved the use of our strongest powers, and the large number of employers going through automatic enrolment, more people than ever are aware of The Pensions Regulator. More people are taking an interest in what we do and how we do it. This increased focus is a very positive development. So in this corporate plan we set out our priorities for the next year and beyond, including some of the changes we are making to position us for the challenges ahead.”
As well as successfully completing the remaining stages of the roll-out of automatic enrolment, the TPR’s corporate plan outlines their other priorities:
- Deliver more interventions more quickly where defined benefit schemes are underfunded or avoidance is suspected
- Protect consumers through the effective regulation of master trusts
- Drive up standards of record-keeping and data maintenance, including public service schemes
- Be clearer in our codes, guidance and other interactions with schemes and employers about what they need to do
- Drive up standards of trusteeship across all schemes, with a particular focus on chairs and professional trustees
- Develop and implement our enhanced approach to regulation, explaining our approach publicly, to make us a more effective and efficient regulator
- Create high performing teams of people across TPR with the skills and capabilities to deliver all of the above.
The Pensions Regulator’s corporate plan 2017 - 2020 is available to view on their website.