The Pensions and Lifetime Savings Association (PLSA) has commented on The Pensions Regulator’s (TPR) new enforcement policies consultation.
Nigel Peaple, Director Policy and Advocacy, PLSA, said: “The PLSA is supportive of The Pensions Regulator (TPR) and the use of powers to take action against poor behaviour, such as dishonesty or misconduct that impacts negatively on schemes, or wilful neglect of responsibilities, including disregarding meaningful engagement with regulatory processes and compliance.
“However, we believe that TPR should remain flexible in its approach and its application of powers and the PLSA asks that TPR consolidate the guidance in this area as much as possible to help trustees.
“Overall, we agree with the principles behind the approach set out and the policies are reasonable and sensible. Yet there are certain areas that could benefit from further clarity. Specifically, more clarity could be given over whether both criminal and regulatory proceedings will be taken on the same act(s), including anti-avoidance powers and financial penalties.”
Mark Smith, Senior PR Manager
020 7601 1726 | [email protected]
Steven Kennedy, Senior PR Manager
020 7601 1737 | 07713 073024 | [email protected]