TPR seeks views on dashboards compliance and enforcement
24 November 2022
Pensions dashboards are fast approaching, with the first schemes’ due to go live in August 2023. In preparation for this, The Pensions Regulator (TPR) is asking for feedback on its compliance and enforcement policy.
The consultation, which closes on 24 February 2023, sets out scenarios on how TPR’s approach may be put into practice. TPR invites any and all comments on the scenarios and draft policy but has also provided some specific question to probe into areas of interest.
New legislation has been passed which will enable TPR to issue third parties with compliance notices, for which non-compliance could be fined up to £50,000 for each breach.
The final policy will be expected in Spring 2023, allowing ample time for the first schemes to be familiar with the compliance processes in place.
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