29th June 2018 Rosalind Connor comments in Pensions Expert on DWP’s proposal to grant TPR power to impose civil fines
The Department for Work and Pensions has proposed granting The Pensions Regulator the ability to fine employers and associated parties up to £1m where they are found guilty of serious breaches and reckless behaviour.
TPR’s chief, Lesley Titcomb, re-pledged to proactively keep tabs on schemes that are deemed to be risky.
Rosalind Connor observed that while there has been much focus on the powers available to the regulator in response to the political fallout of a “small number of very high profile failures”, many have instead scrutinised its conduct.
“Where the jury is out a lot is whether the Regulator has behaved in a way that hasn’t got it where it wanted to go, because it didn’t have the right powers, or because it didn’t have the right approach,” she said.
“I think a lot people feel that certainly historically… the Regulator perhaps didn’t have the right approach,” she added.
Read Rosalind’s comments in Pensions Expert
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