With the introduction of the Pensions Schemes Act 2021 and the enhanced powers of the Pensions Regulator, it has never been more important to understand regulatory risk. Sponsors must now ensure that they keep their defined benefit pension schemes at the forefront of their minds - particularly when embarking on corporate activity. Our team is skilled in engaging with the Pensions Regulator such as in matters concerning moral hazard, information gathering, or replacement recovery plans.
The members of our team have years of experience working with cases concerning the Pensions Regulator, such as the Nortel (Canada and EMEA) litigation, NIAB, and the Arriva/Stagecoach challenge to the DfT's assessment of regulatory risk.
Our tier-1 team has particular prowess in advising in scenarios where sponsors, and schemes, are distressed and where there is a growing risk of regulatory intervention. Many moral hazard cases are in the context of insolvency and restructuring, and we are alive to the issues arising in such cases. Our team is also accomplished in advising on actions by other regulators, such as the Financial Conduct Authority, allowing us to help you with a range of investigations and regulatory actions.
Particular insights about the Pensions Regulator and the new, enhanced moral hazard regime are to be found in our knowledge section.
- TPR seeks views on how it will apply new Contribution Notice tests
- DWP’s consultation on regulations under PSA 2021 strengthening TPR’s powers
- The changing powers of the pensions regulator
- Pension Scheme bill briefing