New criminal offences and unlimited fines: what employers need to know about the Pensions Regulator's new powers (Updated February 2021)

Hogan Lovells
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After the Carillion and BHS debacles, the Pensions Regulator (tPR) announced it was going to be "clearer, quicker and tougher". The new Pension Schemes Act 2021 (the Act), which received Royal Assent on 11 February 2021, gives tPR significant new powers so it can beef up its approach. Most provisions are not yet in force and we expect consultation on draft regulations and guidance before tPR’s new powers have effect.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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