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The Pensions Regulator (TPR) is a non-departmental public body which regulates work-based pension schemes in the United Kingdom. Created under the Pensions Act 2004, the regulator replaced the Occupational Pensions Regulatory Authority (OPRA) from 6 April 2005 [1] and has wider powers and a new proactive and risk-based approach to regulation.
File:Pension Schemes Act 2021 (UKPGA 2021-1).pdf. Add languages. Page contents not supported in other languages. File; Talk;
The first Act to follow was the Pensions Act 2004, which updated regulation by replacing the Occupational Pensions Regulatory Authority (OPRA) with the Pensions Regulator and relaxing the stringency of minimum funding requirements for pensions, while ensuring protection for insolvent businesses.
An Act to authorise the use of resources for the year ending with 31 March 2022; to authorise both the issue of sums out of the Consolidated Fund and the application of income for that year; and to appropriate the supply authorised for that year by this Act and by the Supply and Appropriation (Anticipation and Adjustments) Act 2021. [f]
Part II concerned administration of the pension system under an "Occupational Pensions Board", though this has now been replaced by the Pensions Regulator under the Pensions Act 2004. Part III in sections 7 to 68 concerns the certification of pension schemes, and the rule that people with entitlement to such schemes get reduced state benefits ...
National Employment Savings Trust (NEST) is one of the qualifying pension schemes that employers can use to meet their new duties. It was set up as part of the government's workplace pension reforms. Nest is a trust-based defined contribution pension scheme, run by a trustee (Nest Corporation) on a not-for-profit basis. In April 2014 Nest ...
The Pensions Act 1995 required scheme pension payments arising from excess contributions to go up at the LPI. Excess contributions are defined as contributions that are not protected rights contributions from contracting out of State Earnings-Related Pension Scheme (SERPS) or the State second pension (S2P) or any Additional voluntary contributions (AVCs).
The UK Treasury, supported by the Government Actuary, told the Review they wished to see effective regulatory oversight of the actuarial profession., [9] and the Review recommended that the Government, working with the PRA and The Pensions Regulator (TPR), 'should review what powers are required effectively to oversee regulation of the ...