Government confirms 'tougher' powers for TPR in DB white paper
'No systemic problem'
The Department for Work and Pensions' (DWP) defined benefit (DB) white paper has confirmed The Pensions Regulator (TPR) will receive a number of new powers to crack down on the rogue handling of DB schemes
Published today, Protecting Defined Benefit Pension Schemes recognised most employers wanted to "do the right thing" by their scheme but said it was still necessary to guard against the "small minority" of employers who may be putting people at risk. The DWP confirmed TPR would be given a "tougher and more productive role" to help tackle employers putting members at risk, which would build upon its existing 'anti-avoidance powers'. According to the paper, TPR will now have the power to punish...
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