Greater scrutiny of corporate transactions and punitive measures for wrong-doings

The Government has released a consultation document as part of its programme of change for defined benefit pension schemes. Protecting Defined Benefit Pension Schemes – A Stronger Pensions Regulator contains proposals to give the Pensions Regulator (tPR) increased ability to monitor corporate transactions and sets out “a robust framework for punitive measures to deter and ultimately punish wrong-doing”.

In March 2018, the Government published the White Paper, Protecting Defined Benefit Pension Schemes, in which it said that it would be carrying out several consultations on different areas. This is the first consultation – improving tPR’s powers. The Government’s stated aim is to provide improved protection for scheme members whilst balancing the interests of sponsoring employers.

We have written a detailed summary of the consultation.