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Welfare Reform on the Web (December 2007): Pensions - UK

The Pensions Regulator: progress in establishing its new regulatory approach (HC 1035 Session 2006-7)

National Audit Office

London: TSO, 2007 (House of Commons papers, session 2006/07; HC1035)

The Pensions Regulator (TPR) was established on 6 April 2005 to regulate private sector work-based pensions schemes in the UK, replacing Opra. The NAO feels this is too soon to be able to evaluate TPR's progress in establishing its new regulatory approach, so this report focuses on evaluating whether TPR has put in place appropriate processes to meet its statutory objectives in a risk-based manner, and whether deficiencies in its predecessor Opra's approach have been resolved. It finds that TPR has made good progress in establishing a risk-based approach to regulation by focusing on areas that pose the greatest risk to pension scheme members. It has also sought to draw on a wider range of data than Opra and is working well with the Pensions Protection Fund to improve the quality of data they hold.

Pension trends in the UK

M. Small

Pensions International, Issue 95, 2007 p.13-14

Looks at the themes emerging from the Pensions Report 2007 and 2006, which examine how consumers feel about their pensions provision. One of the most interesting findings is that consumers are completely disengaged from pensions as a whole, no longer trust information provided by employers, government or advisers, and are using vehicles other than pensions or property for long-term saving. This article looks at the implications for policymakers and employers.

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