The Pensions Regulator’s maintaining contributions consultation – an NAPF response
The NAPF has responded to The Pensions Regulator’s (TPR) Maintaining Contributions consultation.
TPR proposed to amend codes 5 and 6 on reporting late payment of contributions. These proposals affect both trust-based and contract-based schemes. The proposed amendments set out new rules on monitoring contributions and reporting payment failures. The NAPF is concerned that these proposals shift responsibilities from employers and the regulator to trustees and scheme managers.