The Pensions Regulator Enforcement and prosecution policies consultation: PLSA response
In May 2022, The Pensions Regulator published a new consultation on enforcement and prosecution policy. We welcome the response from the Regulator including taking on board our recommendation to consolidate the enforcement policy, as included in our response in Autumn 2021 to their intial consultation.
In October 2021, the PLSA responded to the DWP’s Consultation on Notifiable Events Amendment Regulations for DB schemes we recommended both the DWP, and the Regulator clarify what is defined as a “decision in principle” and “when the main terms are proposed”. The DWP’s response is overdue, the regulations were expected in Spring 2022, and the Regulator will consult on guidance of these regulations.
The PLSA ask that the DWP and TPR work collaboratively to avoid trustees having a lack of clarity on their own responsibilities and then accidentally fall into the anti-avoidance behaviour category.