TPR quarterly bulletin
15 February 2019
Following on from the news this week that 10 million people are now newly saving or saving more into a workplace pension, the bulletin serves to remind us of the range of powers that the TPR have and the actions they will take to protect savers.
Director of automatic enrolment Darren Ryder said:
“More than 1.4 million employers have done the right thing for their staff and we’re delighted so many now have the opportunity to save for later in life. But we are not complacent and will continue to ensure employers and their advisers meet their responsibilities.
“We will not tolerate behaviour by employers or their advisers that sees pension savers shortchanged by not being put into a scheme.”
Executive director of frontline regulation Nicola Parish added:
“This report highlights the many wide-ranging powers and ways of working that we are using to protect savers – from helping trustees deal more robustly with employers, to taking swift court action when we suspect members’ savings are at imminent risk. Our clearer, quicker and tougher approach is having a real impact.”
The TPR blog also published this week, reminds us that whilst we have come a long way in making workplace pensions and automatic enrolment ‘business as usual’, there is much more yet to be done.