Pensions - Articles - New figures published showing where TPR has used its powers


The Pensions Regulator has published its latest figures showing where it has used its statutory powers.

 The figures are published instead of TPR’s usual quarterly Compliance and Enforcement Bulletin and cover the period from January to March 2020.
 
 The data reflects powers used in the months before the start of measures introduced by TPR to help employers and pension schemes through the challenges caused by COVID-19.
 
 In its usual format, the bulletin includes case studies so that employers, advisers and trustees can benefit from lessons learned and avoid non-compliance.
 
 However, in light of the difficulties caused by COVID-19, TPR is focusing on helping employers, advisers and pension schemes meet their duties while navigating the current challenges.
 
 TPR’s Director of Automatic Enrolment Mel Charles said: “The protection of savers is our top priority and maintaining high employer compliance and driving up governance standards is key to that.
 
 “These figures show the action we have taken to ensure employers and trustees meet their responsibilities. They are also a result of our proportionate and risk-based approach to enforcement, an approach that is now enabling us to respond the challenges that COVID-19 is bringing to bear on savers and employers alike.”
 
 The figures show:
 
 • Since the start of automatic enrolment: a total of 190,562 compliance notices, 115,459 fixed penalty notices, 35,717 escalating penalty notices and 65,457 unpaid contribution notices have been issued.
 
 • TPR has also carried out a total of 1,865 compliance checks across the UK as part of a series of inspections on employers.
 
 • In the period between January and March 2020, TPR appointed 91 trustees to ensure the proper administration of the pension scheme and issued 52 mandatory penalty notices for no or non-compliant chair’s statements. During the same period, TPR used its information gathering powers 11 times.
 
 The next bulletin, which will be published later in the summer, will show where TPR has used its powers between April and June this year. They will reflect TPR’s proportionate and risk-based approach to enforcement, in light of the pressures employers and trustees are now under.
   

 New TPR Figures

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