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ARTICLE · 22 FEBRUARY 2019

Protecting DB Pension Schemes – New Pensions Regulator Powers Confirmed

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The government has confirmed that the Pensions Regulator will be given new powers to better protect members of DB pension schemes.

United KingdomEmployment and HR

The government has confirmed that the Pensions Regulator will be given new powers to better protect members of DB pension schemes. Changes will also be made to the anti-avoidance, notifiable events, and voluntary clearance regimes to further strengthen the DB regulatory framework.

The announcement follows the government's March 2018 white paper which set out proposals in three areas to strengthen the DB pensions system in the UK – Regulator powers, scheme funding, and consolidation (see our legal update for more information).

Regulator powers – new offences and sanctions

In an effort to deter and punish reckless behaviour towards DB pension schemes, a range of new offences and sanctions will be created:

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This Mayer Brown article provides information and comments on legal issues and developments of interest. The foregoing is not a comprehensive treatment of the subject matter covered and is not intended to provide legal advice. Readers should seek specific legal advice before taking any action with respect to the matters discussed herein.

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