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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