TPR’s three-year plan
The Pension Regulator (TPR) has published a new three-year plan, as well as detailed agenda information it takes from pension insurance, anti-fraud, dashboards and dealing with the changing nature of defined contribution pension insurance. The plan is explained through five categories, with a detailed explanation of what will be done in the first and what in the next two years.
Judging by the report, during the first year of the TPR’s three-year plan focus will be placed on new powers introduced to it by the Law on Pension Schemes, defining and refinement. TPR oversight team will engage in administrative work on the field program while attaining its effective management focus as well as financing of the scheme and of the administration.
The report contains the following five categories:
- Security – the confrontation with the scams
- Value for money – introducing cross-industry standards
- Scrutiny of decision making – employer related and additional focused on Defined Benefit (DB) pensions
- Innovation – pension dashboard and superfund exploration
- Bold and effective regulation
Part of the new plan also talks about “innovations”, more precisely they refer to the plans for the continuation of preparations for pension control panels.