9/3/2023 0 Comments When is the act![]() In particular: The Act creates new criminal offences, some punishable by up to seven years' imprisonment, plus a new civil financial penalty of up to £1m. New criminal offences and civil penalties, plus increased powers for the Pensions Regulator (tPR), have raised concerns not just among sponsoring employers of defined benefit (DB) schemes but also from those with a wider relationship with these employers, such as group parent companies and the employer’s lenders. ![]() ![]() New offences, penalties and powers for the Pensions Regulator: what employers and trustees should know Updated August 2021 Pension briefing The passage of the Pension Schemes Act 2021 (the Act) into the statute books has received press coverage far beyond the usual pension industry commentary.
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