A consultation has been launched on granting stronger powers to The Pensions Regulator (TPR) as the government seeks to address "misuse" of flexibilities in the defined benefit (DB) funding system.
The Department for Work and Pensions (DWP) has today (26 June) issued a call for industry views on enhanced regulatory powers, including punitive powers where intentional damage is done to a DB scheme, greater information-gathering powers for TPR, and a strengthened clearance regime. The consultation comes after the DWP published its long-awaited white paper - Protecting Defined Benefit Pension Schemes - in March, outlining strengthened regulation and criminal sanctions, among other policies. Launching the consultation at the 2018 Pensions and Benefits UK conference, run by PA's siste...
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