The primary role of The Pensions Regulator (TPR) is to protect workplace pensions.
We have seen major shifts in the political, economic and pensions landscape since our inception, including the introduction of automatic enrolment, continued economic challenges to defined benefit schemes and the introduction of pension freedoms. We have also been given responsibility for regulating the governance and administration of public service schemes and the authorisation and supervision of master trusts.
While ‘educate, enable, enforce’ has served us well, our approach to how we regulate is changing and so this no longer accurately reflects how we work. As the landscape is evolving, so are we. We have taken into account the feedback we received from our stakeholders, as well as our staff.
Through our TPR Future programme, we have completed a review of our entire approach to regulation and this year we have started to implement a new regulatory model to drive up standards and tackle risk by engaging proactively with a larger proportion of the schemes and employers we regulate.
Our 'Making workplace pensions work' publication will guide you through our new way of operating and the further changes you can expect to see from us.