A consultation has been launched today detailing plans to improve the powers of the Pensions Regulator as well as increase the protections for defined benefit scheme members.
Released by the Department for Work and Pensions (DWP), the consultation sets out the proposals to improve Regulator’s powers so that they can obtain redress for members should things go wrong as well as obtain the right information about a scheme and its sponsoring employer. In addition, it also aims to enable them to be more proactive and get involved earlier when employers make changes which could affect the pension scheme.
The DWP is encouraging various groups to respond to the consultation. These include:
- Pension scheme trustees and managers
- Pension scheme members and beneficiaries
- Defined benefit scheme sponsoring employers
- Interested industry bodies, professionals and stakeholders
Following the government’s white paper on the protection of defined benefit pension scheme release earlier this year, the consultation is open until 21 August 2018.
You can respond to the consultation here.
