- The Pension Schemes Bill 2020 (Part 1)—strengthening TPR powers and sanctions
- Original news
- What are the implications of the 2020 Bill’s provisions concerning TPR’s new powers and sanctions?
- What is the background?
- What criminal offences does the Pension Schemes Bill 2020 seek to introduce?
- What changes are being made to TPR powers and the sanctions regime?
- Declaration of intent
- Broadening TPR’s information gathering powers—interview power
- Broadening TPR’s information gathering powers—inspection power
- New and increased civil penalties
- What are the next steps?
Pensions analysis: On 7 January 2020, the Pensions Schemes Bill 2020 was reintroduced in the House of Lords. It was published the following day, alongside explanatory notes. Save for some minor changes, the Bill is largely unchanged from the version first published in October 2019. Among other things, the 2020 Bill aims to strengthen the powers of the Pension Regulator (TPR) and the existing sanctions regime. This includes introducing new criminal offences, the most serious of which will target certain behaviour by employers in respect of their defined benefit (DB) schemes. This News Analysis is the first of four News Analyses covering the various measures of the Pension Schemes Bill 2020. It is based on News Analysis published in respect of the 2019 version of the Bill, but updated to reflect any (minor) changes made to the Pension Schemes Bill 2020.
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