1. TPR Our powers and priorities
Nicola Parish
Executive Director of Frontline Regulation
Occupational Pensioners’ Alliance AGM
4th May 2017

2. Agenda TPR priorities TPR powers Case examples.
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3. Risk-based regulation
Current approach – Educate, Enable and Enforce
TPR’s approach to regulation is risk-based
We monitor the landscape for risk through:
information gathering
research and analysis
intelligence
information sharing with other regulators and government
This allows us to focus our resources on matters that present the greatest risk to our statutory objectives
Click to add notes
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4. Key risks Sub-scale schemes Poor standards of stewardship
Disorderly scheme failures
Poor data integrity and security
Economic and market outlook
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5. 3 of TPR Corporate Priorities 2017/18
Deliver more interventions, more quickly, where defined benefit schemes are underfunded or avoidance is suspected.
Drive up standards of record-keeping and data maintenance, including public service schemes.
Drive up standards of trusteeship across all schemes, with a particular focus on chairs and professional trustees.
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6. TPR powers Our powers fall into these broad categories:
Gathering information: our legal powers to compel the provision of information, including visits, inspections and in limited circumstances, interviews.
Regulatory and enforcement action:
powers to impose fines, Improvement Notices; requiring a report from a skilled person and putting an independent trustee into a pension scheme.
Powers that get cash or other support (e.g. a guarantee) for a pension scheme where an employer has tried to avoid their pension scheme liabilities or where the scheme is insufficiently resourced.
Powers to impose recovery plans or a schedule of contributions in a DB scheme if the trustee and employer can’t agree or if they have agreed something that we think is not appropriate.
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7. Ashley Wilson Criminal prosecution – firm and individual S72 Notice
Guilty plea
Fine Mr Wilson £4,000 Firm £2,700 (discounts for guilty plea)
Costs Mr Wilson £7,500 and Firm £2,500
We will take action

8. BHS case
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9. BHS case: outcome
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10. Halcrow case: outcome
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11. TPR Our powers and priorities
Nicola Parish
Executive Director of Frontline Regulation
Occupational Pensioners’ Alliance AGM
4th May 2017