As a consumer, I am a big fan of the concept of dashboards. A brilliant idea. As a lawyer advising pension plan trustees, I am looking forward to helping my clients to make them a reality. Until now, dashboards have felt a long way off in the future and there has been no shortage of … Continue Reading
It has been a long and tortuous process, but the pension schemes bill has finally completed its passage through parliament and we just await the formality of Royal Assent before we have the Pension Schemes Act 2021 (the Act). Well done to Pensions Minister, Guy Opperman, for (almost) achieving his goal to pass this legislation in … Continue Reading
Dinner time! Or rather, it’s time for our near annual reminder of the perils of ignoring The Pensions Regulator (TPR). We know by now that it really does bite! In 2017 we wrote about the first high profile uses by TPR of its power to prosecute individuals for failing, without reasonable excuse, to comply with … Continue Reading
“You need to get the basics right, including giving us up-to-date information about the scheme, and we will take action if you fail.” The Pensions Regulator’s (TPR) move towards being a “clearer, quicker and tougher regulator” is apparent from this statement, taken from its most recently published compliance and enforcement bulletin. TPR has recently fined … Continue Reading
Four trustees of an occupational defined benefit pension scheme have been fined £500 each by the Pensions Regulator (TPR) for their failure to obtain audited scheme accounts on time without reasonable excuse. This is the first fine of this type, and follows TPR’s announcement in 2017 that it was going to be “clearer, quicker and … Continue Reading
