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The Pensions Regulator

The Pensions Regulator is responsible for regulating trust-based occupational pension schemes, including master trusts. It also has some powers in relation to certain types of personal pension arrangements.

Some of the Regulator’s powers are far-reaching, including the power to order corporates or individuals to make payments, or put some other support in place in relation to a scheme, the power to appoint and remove trustees and ban individuals from acting as trustees, the power to order changes to future benefit accrual to deal with a funding crisis or impose a schedule of contributions or recovery plan and ultimately the power to wind up a scheme. The Pension Schemes Bill also proposes to make significant changes to the Regulator’s powers, including the introduction of new criminal offences. To read more about some of the Pensions Regulator’s current powers, see our guide The Pensions Regulator’s powers and how they are exercised.

In some circumstances those involved in operating or advising occupational pension schemes are required to approach the Regulator to provide information to help it carry out its regulatory responsibilities, particularly its objectives of protecting members’ benefits and reducing the risk of calls on the Pension Protection Fund – you can read more in our guide When to approach the Pensions Regulator. Our guide What to do if…the Pensions Regulator asks for information covers key considerations and tips for trustees and employers if they are asked for information by the Regulator, whether this is an informal request or statutory demand.

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