The Pensions Regulator (TPR) has published updated guidance on master trust capital reserving requirements.

Law360: The Pensions Regulator (TPR) urged pension schemes on 14 May 2025 to issue guidance—or what it called a sat-nav—for people approaching retirement, after a report found that most workers cash out as soon as they can.

Law360: The former directors of a packaging company have been forced to put a total of approximately £2.5m into a defined benefit pension scheme after contribution notice (CN) enforcement action taken by the Pensions Regulator (TPR), it announced on 6 August 2025.

The Pensions Regulator (TPR) has published a regulatory intervention report detailing its action to strengthen the covenant of the Northern Foods Pension Scheme (NFPS) after concerns arose about the employer’s ability to support the scheme of more than 13,000 members. A support package was agreed for the NFPS that sets a minimum contribution level of about £300m by June 2034, replaces the scheme’s sole statutory employer with a stronger entity, and adds enhanced guarantee arrangements. TPR states that the agreed package is intended to improve the scheme’s long-term funding position and the likelihood of members receiving their benefits in full.

The Pensions Regulator (TPR) has published its latest compliance and enforcement bulletin, providing an update on its cases and use of powers. The latest bulletin reveals a slight increase in the use of TPR's automatic enrolment (AE) powers.

The Pensions Regulator (TPR) has released a series of short films to promote pension dashboard readiness as the first schemes begin connecting to the system. TPR is distributing the films on its social media platforms and to industry stakeholders to sustain momentum as schemes get ready, highlighting the savers who will benefit from this. All 2,700 schemes with dashboard obligations must connect by October 2026. TPR has implemented a regulatory initiative on data controls and plans enhanced engagement on data quality later in 2025. TPR has outlined five key actions for trustees to prepare for connection as set out below.

The Pensions Regulator (TPR) has released its defined contribution (DC) landscape report for 2024 which reveals a substantial restructuring of the DC pensions market, with scheme numbers falling below 1,000 for the first time following a 15% reduction to 920 schemes in 2024. This consolidation, primarily affecting schemes with fewer than 5,000 members, aligns with TPR's regulatory initiative to enhance value for money for savers. Despite fewer schemes, total DC assets grew by 25% to £205 billion, with master trusts now holding 91% of memberships and 81% of assets. TPR's enforcement actions have resulted in over £33,000 in penalties for regulatory breaches, addressing concerns that only 17% of schemes were completing mandatory value for members assessments.

The Pensions Regulator (TPR) has released its annual statistics publication on the occupational defined benefit (DB) landscape in UK for 2024. This publication offers a summary of the occupational DB and hybrid scheme environment in the UK, detailing scheme status, membership numbers, and assets under management. Key findings reveal that the DB and hybrid landscape continues to shrink at a yearly rate of 3% on average. The number of schemes decreased from 7,300 in 2012 to 5,190 in 2024. Schemes are still closing, with the percentage closed to future accrual (excluding those in wind-up) increasing from 72% in 2023 to 73% in 2024. Total membership in private DB and hybrid schemes has decreased by 2% since 2023 to 9,424,000, with only 12% of memberships in open schemes. Despite these trends, the funding level has remained largely unchanged from 2023, rising to 118% in 2024 from 117% in 2023. This is due to slight decreases in both asset amounts (4%) and technical provision (TP) liabilities (5%) since 2023. The percentage of schemes in TP surplus is 80% in 2024, up from 77% in 2023. TPR has also introduced methodological changes, now accounting for benefit outflows and future accruals in its actuarial projections.

The Pensions Regulator (TPR) has published a report calling for small defined contribution (DC) pension schemes to improve their climate risk management or consider market consolidation. The report, covering £1.4trn in UK private occupational pension savings, reveals that while all master trusts and 92% of large schemes dedicate resources to climate risk, only 4% of micro schemes and 25% of small schemes do the same. TPR has outlined plans to enforce statutory climate duties and support trustees in improving sustainability risk management through education and industry collaboration.

The Pensions Regulator (TPR) has published new evidence on the impact of scale in the UK defined contribution pensions market as consolidation into larger schemes and master trusts continues. The report says larger schemes and master trusts are increasingly dominating the market, with TPR pointing to evidence that scale can improve governance, reduce costs and support greater access to private market investment. TPR is to publish further evidence on DC asset allocation later in 2026, while continuing to monitor consolidation and scale developments across the market.

The Pensions Regulator (TPR) has published a report outlining how it worked alongside pension administrator Capita to assess the risk to pension schemes following a cyber security incident in March 2023. The report shows that TPR stepped in to ensure that Capita was taking steps to identify the extent of any impact on schemes and to inform trustees of affected schemes so that protective measures could be put in place. TPR says that this swift reaction helped ensure that thousands of pension savers were protected.

The Pensions Regulator (TPR) has reported that at the plea and trial preparation hearing, former company director, Nicholas Marks, pleaded not guilty to two counts of fraud by abuse of position against employees at Clarity Products Ltd and Lunar Automotive Ltd respectively. The trial has been fixed for 18 May 2026 at Southwark Crown Court.