The Pensions Regulator (TPR) has issued 937 requests for information under section 72 of the Pensions Act 2004 since its records began in 2010.
In a Freedom of Information Request (FoI) response published last month, the watchdog revealed the highest number of requests in a year was in 2016, when they amounted to 158, and the lowest was in 2010, during which 12 were issued. So far this year, TPR has issued 51 section 72 requests. The regulator has the power under the act to require recipients of a section 72 notice to provide it with information and documents relevant to its statutory functions. Failure to provide such information, without a reasonable excuse, is a criminal offence that can result in an unlimited fine. The sa...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes