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

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 Bill (the Bill) currently going through Parliament will give tPR significant new powers so it can beef up its approach. Corporate groups with defined benefit pension (DB) schemes should understand the Bill’s new requirements because failure to comply could result in large fines or being charged with a criminal offence.

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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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