Under the Pensions Act 2004 (PeA 2004), Pension Schemes Act 1993 (PSA 1993), Pensions Act 1995 (PA 1995), Pension Schemes Act 2017 (PSA 2017) and other legislation, the Pensions Regulator (TPR) has been given a range of powers which are considerably more extensive than those available to its predecessor, the Occupational Pensions Regulatory Authority (OPRA). They are intended to allow TPR to be a more proactive regulator than OPRA was able to be.

TPR’s powers were further extended by the Pension Schemes Act 2021 (PSA 2021) as part of the drive to have tougher and more decisive pensions regulation. For further information, see News Analysis: Pension Schemes Bill receives Royal Assent.

This Practice Note provides a general overview of TPR’s powers, as well as any TPR policy in relation to the exercise of such powers.

These powers can be divided into the following categories, which are explored below:

1. •

   trustee-related powers

2. •

   automatic enrolment powers

3. •

   master trust powers

4. •

   funding-related powers

5. •

   transfer-related powers

6. •

   scheme modification powers

7. •

   employer debt powers

8. •

   winding-up powers

9. •

   information-related