In a bid to increase their general understanding of issues in the sector, both the Pensions Regulator and the Pensions Ombudsman have agreed to share information.
Announced today, the agreement sets out to provide protection to pension scheme members, help to create a “safe” pensions saving environment, as well as support higher standards in the industry.
The agreement, which came into effect earlier this year, means that information around complaints dealt with by the ombudsman can be shared with the regulator.
Commenting on the agreement was frontline regulation executive director of The Pensions Regulator, Nicola Parish. She said: “This agreement spells out formally the way we share information to help us to tackle scams, and identify trends and emerging issues so that we can work with TPO and other partners to intervene quickly to put things right.”
Also sharing her thoughts was Claire Ryan, legal director at The Pensions Ombudsman. She stated: “TPO wishes to actively work more closely with pension stakeholders. Sharing information will not only safeguard pension scheme members, but should also help drive standards and improvements across the industry.”
