A blog by Ben Gunnee, Executive Director of Market Oversight at TPR, highlights a shift in the defined benefit (DB) endgame landscape as improved funding positions create a wider range of options for trustees. TPR expects trustees of DB schemes in surplus on a low-dependency basis to undertake a robust assessment of all available endgame strategies rather than defaulting to insurer buyout, ensuring any chosen approach delivers both benefit security and improved member outcomes. While TPR supports innovation, it expects trustees to evidence strong governance, rigorous due diligence and early engagement where novel arrangements are being considered.

The Pensions Regulator (TPR) has announced that it is to update its guidance on significant event J for authorised master trusts in response to industry feedback seeking additional clarity on what constitutes a significant event J. In particular, the revised guidance will provide further explanation of the meaning of a ‘significant adverse effect’. It will also introduce a traffic-light system, supported by illustrative examples of red, amber and green events, to help those running master trusts assess whether an incident needs to be reported and when. TPR says that the updated significant event J guidance and related notification forms will be published on its website in October 2026.

Law360: The Pensions Regulator (TPR) has confirmed that it will extend its regulatory approach with professional trustee firms amid significant growth in the sector.

Law360: The Pensions Regulator (TPR) has said it will be 'stepping up' its focus on investment strategies to try to ensure pension schemes deliver the best possible results for savers.

Law360: The Pensions Regulator (TPR) said on 17 February 2025 that it will go further this year on managing risks affecting the wider pensions market and financial ecosystem, after announcing last year it would take on a more 'prudential' approach to supervising the sector.

The Pensions Regulator (TPR) has published a blogpost by its executive director of digital, data and technology, Paul Neville, outlining a strategy to support the pensions industry through digital innovation and improved data practices. The blog introduces the planned launch of a cross-sector Pensions Data and Digital Working Group, expected in autumn 2025, which will bring together stakeholders from across the sector to address issues such as data quality, digital access, and administrative systems. TPR wants the Working Group to be ‘action-orientated’ with a focus on ‘collaboratively delivering change which benefits schemes and savers’. The strategy aims to promote open data standards, digital integration, and the responsible use of technologies, including artificial intelligence, with the goal of improving regulatory efficiency and supporting better outcomes for savers.

Law360: The Pensions Regulator (TPR) said on 8 July 2024 that it will be ramping up its focus on the investment strategies of Britain's master trusts to ensure their plans and methods deliver best results for savers.

Law360: The Pensions Regulator (TPR) has said it will create three new regulatory functions as part of a strategic overhaul it said would meet the demands of a changing marketplace of fewer, but larger schemes.

The Pensions Regulator (TPR) has updated its guidance on the defined benefit (DB) and hybrid (mixed-benefit) scheme return. New questions focus on scheme member data quality, replacing the previous record-keeping section, and align with TPR’s expectations and general code. The updated guidance includes additional inquiries about investment consultancy providers' performance and objectives. The scheme membership details section now requires more recent information to calculate the General Levy for the year starting 1 April 2025. Trustees and managers must submit the completed scheme return by 31 March 2025 through the Exchange online service. Failure to meet this deadline may result in fines and adversely affect Pension Protection Fund (PPF) levy calculations. TPR emphasises the importance of updating scheme contacts and preparing necessary information in advance to ensure timely submission.

The Pensions Regulator (TPR) has updated its guidance on Value for defined contribution (DC) scheme members. TPR has added a new paragraph to the section on ‘Active member discounts’, stating that it is an ongoing obligation to check for the existence of an active member discount, which cannot occur at any time since active member discounts have been banned since 6 April 2016. This must be checked at an individual member level rather than a cohort level, as pension scheme trustees need to be satisfied that there is no individual member affected by an active member discount.

The Pensions Regulator (TPR) has published updated guidance covering third-party applications for regulatory powers, including independent trustee appointments, trustee disqualification waivers and prohibition order revocations. The guidance introduces bespoke application forms and clarifies the roles of applicants, TPR's case team and the Determinations Panel. TPR's Executive Director emphasised that applications must demonstrate evidence that using these powers serves members' interests. The guidance aims to streamline the application assessment process while maintaining regulatory standards.

The Pensions Regulator (TPR) has updated its guidance on pensions dashboards to bring it in line with external developments and address industry feedback.