Pensions Sector Calls For Clarity On Watchdog's New Powers

Law360, London (April 21, 2021, 12:06 PM BST) -- A trade body called on The Pensions Regulator on Wednesday for greater clarify on how it intends to use its new powers, warning that everyday business activity could be hampered because bosses and trustees fear criminal sanctions if they remain in the dark.

The watchdog should provide practical examples of where it will prosecute individuals and should do so before changes in the Pension Scheme Act 2021 take effect later this year, the Society of Pension Professionals said.

The legislation will permit the watchdog to prosecute individuals if they act — or fail to act — with the intention of avoiding debt...

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