Regulator Powers for the smaller scheme

In March 2022, The Pension Regulator (TPR) reported how they had used their powers to protect a 600 member scheme, by securing a £130,000 settlement against an overseas sponsoring employer.

The regulator used its powers to issue a determination for lost investment return and interest. The first time a determination has been used in that way.

The case sends a clear message to employers that the Regulator will protect schemes of all sizes, and the location of the sponsoring employer is no barrier.

The regulator uses a risk based approach to target their resources, but did acknowledge that despite the challenges of the past two years, indications are that employers have generally done right by their staff.

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