Skip to main content
The Actuary: The magazine of the Institute and Faculty of Actuaries - return to the homepage Logo of The Actuary website
  • Search
  • Visit The Actuary Magazine on Facebook
  • Visit The Actuary Magazine on LinkedIn
  • Visit @TheActuaryMag on Twitter
Visit the website of the Institute and Faculty of Actuaries Logo of the Institute and Faculty of Actuaries

Main navigation

  • News
  • Features
    • General Features
    • Interviews
    • Students
    • Opinion
  • Topics
  • Knowledge
    • Business Skills
    • Careers
    • Events
    • Predictions by The Actuary
    • Whitepapers
    • Moody's - Climate Risk Insurers series
    • Webinars
    • Podcasts
  • Jobs
  • IFoA
    • CEO Comment
    • IFoA News
    • People & Social News
    • President Comment
  • Archive
Quick links:
  • Home
  • The Actuary Issues
  • May 2014
05

TPR publishes three-year corporate plan

Open-access content Thursday 22nd May 2014 — updated 4.03pm, Monday 4th May 2020

The Pensions Regulator today unveiled its corporate plan setting out its priorities for the next three years, placing an emphasis on value for money in defined contribution schemes and help for small firms to comply with auto-enrolment duties.

Its plan outlines the regulator's strategic approach to regulating both defined benefit and DC schemes. 

Interim chief executive Stephen Soper said: 'To help us achieve our aims, we will be focusing on overarching corporate priorities, rather than rigidly adhering to a silo-based approach with our individual lines of business.

'Over the next few years we will be embedding the new growth objective into our DB work, helping DC schemes assess their value for money, and supporting SMEs in complying with their [auto-enrolment] duties, amongst other activities. It is crucial that we approach these challenges with organisational flexibility if we are to regulate effectively in today's ever-evolving pensions landscape.'

TPR chair Mark Boyle added that it was important for the regulator to remain an agile organisation able to adapt to fresh challenges, whilst maintaining its focus on good outcomes for retirement savers.

The focus on raising awareness and understanding of governance and administration in DC schemes would continue, the regulator said, while for DB it plans to encourage trustees to take an integrated approach to risk management, considering employer covenant, funding plans and investment strategy in the round.

TPR added that its aim was to promote security and good governance for members of work-based pension schemes. 'We will support trustees to put in place funding plans that reflect a reasonable balance between the need to pay promised benefits whilst minimising the impact on employer growth,' its plan stated.

The corporate plan also details how the regulator will maximise compliance with auto-enrolment duties, focusing on preparing medium, small and micro employers to stage from this year to 2018.

'Over this time we will continue to implement our compliance strategy and enforce against breaches where appropriate,' TPR said.

Additionally, TPR said it would investigate pension liberation activity and fulfil its extended remit of regulating the governance and administration of public service pension schemes. 

This article appeared in our May 2014 issue of The Actuary .
Click here to view this issue

You may also be interested in...

ta

FCA issues 'free pension review' warning

The Financial Conduct Authority is alerting the public to be wary of unsolicited offers of pension reviews following the government's promise of free guidance and advice.
Thursday 22nd May 2014
Open-access content

NAPF: LGPS changes must deliver flexibility and value

Local Government Pension Scheme reforms must deliver sustainable and affordable pensions in the long term, the National Association of Pension Funds has said.
Thursday 22nd May 2014
Open-access content

NAPF warns on pace of pension changes

The speed of change to pensions is too great to ensure member interests are protected, the National Association of Pension Funds said today.
Friday 16th May 2014
Open-access content

Swiss Re predicts 'quiet revolution' in digital insurance

The internet is gradually becoming a trusted source of advice about insurance policies, according to Swiss Re’s latest Digital distribution in insurance study
Thursday 15th May 2014
Open-access content

FCA issues details of external inquiry into insurance review leak

The Financial Conduct Authority’s board has published the protocol for the independent investigation into how the regulator leaked details of a planned insurance review to the national press.
Friday 2nd May 2014
Open-access content
2

Registration opens for Certified Actuarial Analyst programme

Students intending to take the new Certified Actuarial Analyst qualification this year can register online with the Institute and Faculty of Actuaries from today.
Wednesday 21st May 2014
Open-access content

Latest from Regulation Standards

tfd

A matter of adjustment

Private assets will continue to shine even under the Treasury’s proposed changes to the Solvency II matching adjustment, says Ziling Jiang
Wednesday 2nd November 2022
Open-access content
ykf

A home run: reducing inequality through impact investing?

Sophie van Oosterom, Wojciech Herchel and Mark Callender consider how ‘impact investing’ in social housing could help to reduce inequality
Wednesday 5th October 2022
Open-access content
hgv

Exchange of ideas: IFRS 17 implementation in the Caribbean

Servaas Houben considers how IFRS 17 principles could benefit insurers in the Caribbean – and what European insurers could learn from the region when it comes to implementing the standard
Wednesday 31st August 2022
Open-access content

Latest from May 2014

2

Pensions legislation dominates Queen's Speech

A Private Pensions Bill, introducing collective defined contribution schemes to the UK, was the centrepiece of today’s Queen’s speech, the last before the general election.
Wednesday 4th June 2014
Open-access content

Detected insurance fraud at record high, says ABI

More than £1.3bn of bogus insurance claims were detected in 2013 according to figures published today by the Association of British Insurers, with claims car insurance making up the majority of this amount.
Friday 30th May 2014
Open-access content
2

Labour proposes auto-enrolment extension to the low paid

A future Labour government would extend auto-enrolment to more than 1 million lower earners by reducing the threshold for inclusion in workplace pension schemes by nearly half, shadow work and pensions secretary Rachel Reeves has announced.
Thursday 29th May 2014
Open-access content

Latest from no_opening_image

TPR publishes coronavirus guidance

The Pensions Regulator (TPR) has published guidance to help UK pension trustees, employers and administrators deal with the financial and regulatory risks posed by coronavirus.
Monday 23rd March 2020
Open-access content
web_p24_cat-and-fish_iStock-483454069.png

Sensitivity analysis: swimming lessons

Silvana Pesenti, Alberto Bettini, Pietro Millossovich and Andreas Tsanakas present their alternative approach to sensitivity analysis
Wednesday 4th March 2020
Open-access content
ta

IFoA adjudication panel: Mr Jack Wicks, student

On 30 October 2019 the Adjudication Panel considered an allegation of misconduct against Mr Jack Wicks (the respondent).
Friday 28th February 2020
Open-access content

Latest from inline_local_link

2

COVID-19 forum for actuaries launched

A forum for actuaries has been launched to help the profession come together and learn how best to respond to the deadly coronavirus sweeping the world.
Wednesday 25th March 2020
Open-access content
2

Travel insurers expect record payouts this year

UK travel insurers expect to pay a record £275m to customers this year as coronavirus grounds flights across the world, the Association of British Insurers (ABI) has revealed.
Wednesday 25th March 2020
Open-access content
2

Grim economic forecasts made as countries lockdown

A sharp recession is imminent in the vast majority of developed and emerging economies as the deadly coronavirus forces businesses to shut down across the world.
Tuesday 24th March 2020
Open-access content

Latest from 05

2

Pensions legislation dominates Queen's Speech

A Private Pensions Bill, introducing collective defined contribution schemes to the UK, was the centrepiece of today’s Queen’s speech, the last before the general election.
Wednesday 4th June 2014
Open-access content

Detected insurance fraud at record high, says ABI

More than £1.3bn of bogus insurance claims were detected in 2013 according to figures published today by the Association of British Insurers, with claims car insurance making up the majority of this amount.
Friday 30th May 2014
Open-access content
2

Labour proposes auto-enrolment extension to the low paid

A future Labour government would extend auto-enrolment to more than 1 million lower earners by reducing the threshold for inclusion in workplace pension schemes by nearly half, shadow work and pensions secretary Rachel Reeves has announced.
Thursday 29th May 2014
Open-access content
Share
  • Twitter
  • Facebook
  • Linked in
  • Mail
  • Print

Latest Jobs

Pricing Trading Manager - Contract

£700 - £1000 per day
Reference
148579

Head of Financial Risk

Flexible / hybrid working with minimum 2 days p/w office-based
£ excellent package
Reference
148578

Insurance Risk Leader

Flexible / hybrid with 2 days p/w office-based
£ to attract the best
Reference
148577
See all jobs »
 
 
 
 

Sign up to our newsletter

News, jobs and updates

Sign up

Subscribe to The Actuary

Receive the print edition straight to your door

Subscribe
Spread-iPad-slantB-june.png

Topics

  • Data Science
  • Investment
  • Risk & ERM
  • Pensions
  • Environment
  • Soft skills
  • General Insurance
  • Regulation Standards
  • Health care
  • Technology
  • Reinsurance
  • Global
  • Life insurance
​
FOLLOW US
The Actuary on LinkedIn
@TheActuaryMag on Twitter
Facebook: The Actuary Magazine
CONTACT US
The Actuary
Tel: (+44) 020 7880 6200
​

IFoA

About IFoA
Become an actuary
IFoA Events
About membership

Information

Privacy Policy
Terms & Conditions
Cookie Policy
Think Green

Get in touch

Contact us
Advertise with us
Subscribe to The Actuary Magazine
Contribute

The Actuary Jobs

Actuarial job search
Pensions jobs
General insurance jobs
Solvency II jobs

© 2023 The Actuary. The Actuary is published on behalf of the Institute and Faculty of Actuaries by Redactive Publishing Limited. All rights reserved. Reproduction of any part is not allowed without written permission.

Redactive Media Group Ltd, 71-75 Shelton Street, London WC2H 9JQ