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TPR welcomes publication of report on BHS

Ref: PN16-38
Monday 25 July 2016

Welcoming today’s publication of the Work and Pensions and Business, Innovation and Skills Committees’ joint report into BHS, Lesley Titcomb, Chief Executive of The Pensions Regulator, said:

“TPR is determined to achieve the best possible outcome for members of the BHS pension scheme and PPF levy payers.

“Our anti-avoidance investigation continues and we expect to have made significant progress by the end of this year.

“Discussions are ongoing with various parties and our focus remains on the members of the BHS pension scheme.”

Lesley Titcomb added:

“We will reflect on the findings of this report and will engage fully with the next phase of the Work and Pensions Committee’s enquiries into defined benefit pensions. We have already written to the committee setting out our preliminary views on which aspects of the regulatory framework could be improved and we and look forward to providing further input later this year.”

Editor's notes

TPR is the regulator of work-based pension schemes in the UK. Our statutory objectives are: to protect members’ benefits; to reduce the risk of calls on the Pension Protection Fund (PPF); to promote, and to improve understanding of, the good administration of work-based pension schemes; to maximise employer compliance with automatic enrolment duties; and to minimise any adverse impact on the sustainable growth of an employer (in relation to the exercise of TPR’s functions under Part 3 of the Pensions Act 2004 only).

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