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Information on penalty notices revoked by TPR

FOI reference - FOI-3402
Date - 26 October 2018

Request

  1. Whether The Pensions Regulator (TPR) has revoked at least 74 penalty notices issued under Regulation 28(2((b) of the Occupational Pension Schemes (Charges and Governance) Regulations 2015 in respect of alleged breaches of Regulation 23 of the Administration Regulations.
  2. Whether these were the notices that our Chief Executive was referring to in her speech to the Professional Pensions Conference.
  3. The dates on which these penalty notices were issued.
  4. The legal power on which TPR relied in order to revoke these notices.
  5. The reason for the revocations.
  6. Whether the revocations were made after a review undertaken on TPR's own initiative or pursuant to a review request from the trustees concerned.
  7. Whether all of the notices that were issued in the relevant time period were revoked.
  8. The number of notices that were not revoked.
  9. The reason why some of the notices issued during this period were not revoked.

Response

I can confirm that we hold information falling within the scope of your request.

Information we are able to supply

  1. TPR has revoked at least 74 penalty notices issued under Regulation 28(2((b) of the Occupational Pension Schemes (Charges and Governance) Regulations 2015 in respect of alleged breaches of Regulation 23 of the Administration Regulations.
  2. The notices in the Quarterly Bulletin were the notices that our Chief Executive was referring to.
  3. The letters to the 74 affected schemes were sent by our Case Management Team between 28 June 2018 and 30 June 2018. Fine and revocation letters for the five revocations made by Regulatory Transactions Team were issued on 3 July 2018.
  4. Regulation 31(1) (b) of the Occupational Pension Scheme (Charges and Governance) Regulations 2015.
  5. The reasons for the revocations included delays that had occurred within TPR dealing with these cases and the circumstances of the case in question. Notwithstanding the provisions of the 2015 Regulations, it was considered inappropriate for the mandatory penalty to be imposed in these cases.
  6. With regards to the 74 penalty notice revocations referred to in the April to June 2018 Quarterly Bulletin, 73 of the revocations were made after a review undertaken on TPR’s own initiative. One further notice was revoked after a review request from the trustees concerned.
  7. Not all of the notices issued in the relevant period were revoked. TPR established a set of criteria to apply to the cases reviewed to determine whether or not the notice should be reviewed.
  8. Details of the penalty notices issued by TPR and not revoked can be found in the quarterly bulletin published on TPR’s website. The figures are contained in the section titled ‘Selected powers used for frontline regulation’.
  9. The reason why some of the notices were not revoked was that they did not meet the internal criteria established by TPR to determine whether or not the notice should be revoked.