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Work and Pensions Committee
The deadline for submissions was Friday 18 May 2018. If you would like to submit a late submission please contact committee staff.
The Committee has launched a new inquiry into the long-awaited White Paper Protecting defined benefit pension schemes (Cm 9591), published on 19 March 2018. Following the Committee's Defined Benefit Pension Schemes report, the inquiry aims to inform and influence the planned consultation on the White Paper’s various proposals.
In the White Paper the Government adopts the Committee's key recommendation: strengthening TPR's main anti-avoidance power (the issuance of Contribution Notices) by enabling TPR to issue punitive fines to punish "irresponsible activities" that cause material detriment to a pension scheme.
The Government says it will make it a criminal offence "to have committed wilful or grossly reckless behaviour in relation to a pension scheme" – although the details of this offence are unclear. TPR will also be granted enhanced investigative and information-gathering powers.
Evidence given by Lesley Titcomb, Chief Executive, Mark Boyle, Non-Executive Chairman, and Anthony Raymond, General Counsel, The Pensions Regulator; Guy Opperman MP, Minister for Pensions, and Ronan O'Connor, Deputy Director, Private Pensions, Department of Work and Pensions (at 10.30am).
There are currently no public meetings scheduled.
Work and Pensions Committee also questions the outgoing Chief Executive of the Pensions Regulator