20 April 2009
In a recent press release, the Pensions Regulator ("Regulator") has
heralded the publication of its Corporate Plan for 2009 to 2012.
The plan shows, in some detail, the steps the Regulator has taken
to adopt its procedures in order to adapt to the adverse economic
climate.
Key points in the corporate plan include:
- the provision of more resources for the Employer Compliance Regime;
- a target of making efficiency savings of 5% per annum on the Regulator's budget;
- improving governance and administration;
- reducing risks to DB members; and
- reducing risks to DC members.
The Chief Executive of Regulator, is quoted as recently saying:
“We continue to take a regulatory approach which is vigilant
to the immediate risks both Defined Contributions and Defined
Benefits pension schemes are facing and is focused on achieving
good long-term outcomes, acknowledging that the interests of
pension savers are best served by enabling employers to play their
part in the economic recovery. Thanks to our ongoing efficiency
programme we are able to allocate extra resources to manage the
increased volumes of work that we anticipate due to the economic
downturn with only modest increases in our projected budget
overall."
- Telephone
- +44 (0) 161 817 7322
- andrew.ashleytaylor@hilldickinson.com
Hill Dickinson has a wealth of experience in dealing with the full
range of employment and pensions issues. If you have any queries
relating to the above, or any other legal matter, please do not
hesitate to contact us
for advice.
