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The Pensions Regulator
21 December 2007
The Pensions Regulator is the Government’s new watchdog for company pension schemes.
Created under the Pensions Act 2004 to replace the Occupational Pensions Regulatory Authority (OPRA) they have wider powers and a new robust approach to oversighting schemes.
They rely upon receiving information about possible risks to schemes from the trustees, managers, advisers or members.
In order to tackle these risks they may:
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help the trustees and employer to come to an agreement about levels of contributions to the scheme, and put in place a long-term funding plan;
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order an employer to pay any shortfall in a scheme;
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order scheme administrators to improve the service they provide to members;
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make sure that on those rare occasions when money is stolen from a scheme it is returned.
Their extensive web site contains information and of codes of practice www.thepensionsregulator.gov.uk
Contact Details
Pensions section
Ph: 0161 249 2440
Fax: 0161 249 2475
Email: pensions@usdaw.org.uk
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