The Pensions Regulator (TPR) has revealed its top ten priorities until 2019 in its corporate plan. These include protecting consumers from poorly run master trusts and ensuring micro employers comply with auto-enrolment.
TPR’s top 10 priorities until 2019
- Successfully implement automatic enrolment
- Protect consumers from poorly run government master trusts
- Effectively regulate defined benefit schemes
- Effectively regulate public sector pension schemes
- Maintain confidence in pensions
- Improve the quality of scheme governance
- Extend regulatory influence
- Increase member engagement with pensions
- Develop staff
- Be an effective and efficient regulator.
TPR chief executive Lesley Titcomb said: “Automatic enrolment has brought workplace pensions into focus for millions more people, and so our regulatory reach now goes beyond pension professionals to employers who have duties to enrol their staff into a pension scheme. We expect those schemes to be well run and to deliver good outcomes.
“Against a backdrop of intense public scrutiny of pensions and retirement saving, we are taking bolder steps to address emerging risks, such as cyber-crime and the developing defined contribution market, and we will be more innovative in the support we provide to trustees, sponsoring employers and members.”