From The Pensions Regulator:
The Pensions Regulator welcomes today’s Government consultation document, and has published a statement on the use of the amended powers.
The proposed amendments hone the powers that the regulator has had since April 2005, to ensure they remain relevant in an evolving pensions landscape. They will help us to ensure adequate protection is in place so that members’ benefits and the Pension Protection Fund are not put at risk. However, we believe these changes will affect only a small number of schemes, and seek to reassure the industry that we do not wish to hamper market activity or innovation.
Tony Hobman, Pensions Regulator chief executive, said: “We look forward to working with the Department for Work and Pensions and stakeholders as the legislation is developed. Our record demonstrates that we are both pragmatic and proportionate and our actions to date have proven that whi…