The Pensions Regulator Stakeholder Update
14 May 2018
The Pensions Regulator (TPR) have published their Corporate Plan for 2018 to 2021 setting out the key priorities and budget for the year ahead.
The plan sets out how they will evolve and explains what they are going to do to become a clearer, quicker and tougher regulator. Over the following year, they intend to become clearer on their expectations of schemes and employers and use a wider range of regulatory tools to act to ensure schemes are kept on the right track and improve outcomes for retirement savers.
Ensuring employers meet their ongoing automatic enrolment duties is already in action but is also a key point mentioned in the plan. There are points that relate to more recent developments, such as delivering the new authorisation and supervision regime for master trusts and working with the Government to implement the proposals set out its White Paper ‘Protecting Defined Benefit Pension Schemes’.
Another key point of the plan is delivering the Pensions Regulator of the future (TPR Future). Many stakeholders have provided input into ‘TPR Future’ work, which has helped shape their ideas. TPR are now moving into the implementation phase of this project, and you can expect to hear more from them in the summer, including how they intend to improve their oversight of the pensions sector and adopt a broader range of regulatory approaches.
A busy year ahead, TPR would like to hear from you if you have any comments on the Corporate Plan or the work of TPR. You can contact them at [email protected].