The Pensions Regulator (TPR) has published a blog post highlighting the need for schemes to drive value for money for pension savers through challenge and disclosure. TPR states that this should become the ‘norm’ as the pensions landscape transitions away from thousands of small schemes towards a concentrated marketplace of complex financial institutions. To allow schemes to compete with the rest of the market and shift the focus from cost alone to value for money, TPR is developing the value for money framework with the Department for Work and Pensions and Financial Conduct Authority. TPR adds that it will increasingly use disclosure of value for money, alongside other data, to constructively challenge trustee decision-making to ensure savers’ interests are being met and expect trustee boards to challenge the advice and investment options that they are presented with.

The Pensions Regulator (TPR) has published a blog, where CEO, Nausicaa Delfas sets out plans to introduce two new regulatory approaches as TPR aims to become more ‘market-facing’ and ‘outcome-focused’. The first of these approaches include TPR establishing relationships with ten of the largest trustee firms by Christmas to understand good practice and identify risks in areas such as conflicts of interests, fees, and ownership structures, following a significant expansion of the use of trustees in the sector. As part of its second approach, TPR will be setting up an innovation design team to help the industry test new models and approaches from a regulatory standpoint. The innovation hub will review industry ideas at an early stage and provide guidance on the approach TPR would likely take to that innovation.

The Pensions Regulator (TPR) has published a blog post advising pension scheme trustees to develop wider environmental, social and governance (ESG) considerations, in light of the increase in climate change reporting requirements. This comes as a result of the increased awareness and understanding of climate-related risks and opportunities leading to sustainable investments being looked upon more favourably. The post encourages trustees to continue improving their understanding of wider ESG considerations and their relationship with climate change, and to revise their scheme policies where appropriate.

The Pensions Regulator (TPR) has published a blog post highlighting the need for defined benefits (DB) schemes to drive value for money for pension savers by offering clear benefits and proper protections. TPR states that scheme consolidation in both the defined contribution (DC) and DB areas will drive better value for savers. TPR plans to publish new DB alternative arrangements guidance later this year for both trustees and employers. TPR also states that it is considering a new proposition that would offer to pay DB pensions to DC savers who transfer into it.

The Pensions Regulator (TPR) has published a blogpost urging trustees and administrators to strengthen scheme defences following a rise in impersonation fraud targeting pension savers.

The Pensions Regulator (TPR) has published a blogpost calling on trust-based defined contribution (DC) schemes to create a healthy competitive market where schemes drive each other on to do even better for savers. TPR stated that the focus of competition should be on genuine value, taking into account the investment returns and services received for the price paid, and not on cost alone. This follows the Financial Conduct Authority (FCA)'s consultation on a new value for money (VFM) framework for workplace pension savers which was launched on 8 August 2024. TPR believes that the consultation takes a huge step towards creating a pensions market with a 'laser-like' focus on value, which is particularly important as millions of people will largely rely on a DC occupational pension to give them a decent standard of living when they retire. TPR will be working alongside the FCA and the Department for Work and Pensions (DWP) on creating a VFM framework for contract-based schemes. To this effect, the DWP is aiming to introduce equivalent legislation for trust-based DC schemes in the upcoming Pensions Schemes Bill. TPR will continue to work with the industry to ensure that the VFM framework enables effective competition between schemes, drives better value across the whole workplace DC market, and facilitates employer choice, by reducing the number of savers with workplace pensions that deliver poor value.

The Pensions Regulator (TPR) has published its latest compliance and enforcement bulletin, covering its cases and use of powers between April 2025 and March 2026. The bulletin is intended to promote transparency and help employers, advisers, trustees and administrators improve their understanding of TPR’s compliance and enforcement interventions and regulatory expectations.

The Pensions Regulator (TPR) has published its compliance and enforcement bulletin for January to June 2024. The update provides information on TPR's cases and the powers it has used during the time period. The aim of the bulletin is to provide an understanding for employers, advisers, trustees and administrators on the types of compliance and enforcement interventions undertaken by TPR.

The Pensions Regulator (TPR) has published its new compliance and enforcement policy for collective defined contribution (CDC) pension schemes, outlining its risk-based regulatory approach. The policy grants TPR the authority to issue risk notices when concerns arise about a CDC scheme's management, governance, or funding. CDC schemes must obtain TPR authorisation to operate and will be supervised under five key principles. TPR will provide annual evaluation reports to scheme trustees and may de-authorise schemes for non-cooperation. The policy aims to establish general principles for the entire CDC market, emphasising TPR's commitment to supporting innovation while ensuring saver protection. This development coincides with the recent authorisation of the Royal Mail CDC scheme but is intended to apply broadly to the evolving CDC landscape.

The Pensions Regulator (TPR) has published its Corporate Strategy 2026–31, Corporate Plan 2026–27 and Pensions Reform Roadmap, setting out its strategic priorities and planned regulatory activity to support implementation of the government's pensions reform agenda. The Corporate Strategy adopts a vision of helping people achieve a sustainable income in retirement through a pensions system that provides security and value for all. It marks a broader system-wide regulatory approach that extends beyond pension saving into retirement and identifies three strategic priorities of raising governance standards, driving value for money and improving retirement outcomes. The strategy also establishes six member and market outcomes, including secure savings, better value, well-run schemes and a sustainable and resilient pensions market, to guide TPR's work over the next five years.

Law360: The Pensions Regulator (TPR) said on 3 March 2025 that it has launched a data strategy to help the retirement savings industry digitalise more data to help inform savers and product designers as well as help improve the economy.

On 20 November 2024, the Pensions Regulator (TPR) published a standalone finalised version of the Fast Track tests and conditions. This document, which was previously published as Appendix 1 of TPR’s response to Fast Track and regulatory approach consultation, sets out the parameters a DB scheme must satisfy when submitting an actuarial valuation (being a valuation with an effective date on or after 22 September 2024) under the Fast Track route. In broad terms, the Fast Track route has parameters relating to funding and investment stress, technical provisions, investment risk and the recovery plan. When finalising the Fast Track parameters, TPR made some minor alterations, among other things, to clarify its intentions.