TPR launch consultation into the use of their enforcement powers

09 May 2022

On 4 May 2022, The Pensions Regulator (TPR) launched a consultation seeking views on investigation, enforcement and prosecution powers.

TPR has published a draft scheme management enforcement policy and a draft prosecution policy which the consultation seeks views on. The new policies consolidate where there are currently multiple policies that could have overlapping remits. A simplified approach can give employers and individuals a clearer view of the approach TPR takes with enforcement and prosecution.

The enforcement policy will replace the defined benefit, defined contribution and public service pension scheme policies. The automatic enrolment and master trust policies will not be changed and will continue to operate separately.

The policies could see penalties of up to £1 million for con-compliance and subsequently providing false or misleading information.

The consultation runs until 24 June 2022. Employers and pension scheme managers are encouraged to give options and suggestions on the drafted policies.

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