The Pensions Scheme Act 2021, which came into force on 1 October 2021, has given The Pensions Regulator (TPR) a host of new powers, including the ability to impose criminal sanctions or prosecute offences relating to defined benefit (DB) pensions.
The new Pension Schemes Act 2021 paved the way for potential changes to the notifiable events framework which is intended to give The Pensions Regulator early warning of possible calls on the Pension Protection Fund.
The rationale used to ultimately assess whether certain contribution notices can be issued needs further fine tuning, leading industry associations say.