Request for data referenced in a Financial Times article
FOI reference - FOI-468
Date - 23 April 2026
Request
Under a freedom of information request, are you able to disclose the names of 58 DB pension schemes referenced in a recent FT article that TPR contacted in November 2025 regarding portfolio liquidity, where TPR identified that 50% of scheme assets required more than one week to liquidate?
Response
I confirm that we hold the information you have requested, however this information is exempt from disclosure.
Section 44(1)(a) – restricted information under s82 PA04
As we have been given strong powers to demand documents and other information from trustees, employers and others, those powers are also balanced by restrictions on how we disclose the information provided to us. The type of information you have requested would be ‘restricted information’. Restricted information is defined at section 82(4) of the Pensions Act 2004 (PA04) as:
‘…information obtained by the Regulator in the exercise of its functions which relates to the business or other affairs of any person’.
Under section 82(5) of the PA04 it is a criminal offence to disclose such information except as permitted under that Act.
Whilst the FoIA is based on the presumption of releasing information, section 44(1)(a)of the FoIA provides an absolute exemption to the requirement to disclose any information if its disclosure is prohibited by or under any enactment. In this case, section 82 of the PA04 prohibits disclosure and we are unable to disclose this sort of information. This exemption is absolute and does not require a public interest assessment be undertaken.