A Tougher Pensions Regulator – And Gaining More Powers

Over the last couple of years the Pensions Regulator (TPR) has been keen to emphasise that it is taking a "clearer, quicker, tougher" approach to the regulation of pension schemes – undoubtedly spurred on by some of the criticism that the Regulator received over BHS.

In the White Paper – Protecting Defined Benefit Pension Schemes – published in 2017, the Government announced that it would strengthen the regulatory framework for TPR. This was backed up a further consultation in June 2018 – Protecting Defined Benefit Pension Schemes – A Stronger Pensions Regulator

The Government has now issued its Response to the Consultation outlining the legislative changes that it proposes to make. These changes will affect all employers with defined benefit pension schemes – especially where M&A or re-financing transactions are proposed.