The Commons Work and Pensions Committee will question The Pensions Regulator (TPR) on regulation of the new pension scheme, compliance measures, its communication strategy with employers and individuals, and on governance and best practice in defined contribution (DC) schemes more broadly
Wednesday 11 January 2012, Thatcher Room, Portcullis House, House of Commons
At 9.30 am
- Bill Galvin, Chief Executive,The Pensions Regulator
- Charles Counsell, Executive Director for Employer Compliance,The Pensions Regulator
The Work and Pensions Committee is conducting an inquiry into automatic enrolment in workplace pensions and the National Employment Savings Trust. The Pensions Act 2008 introduced reforms to workplace pensions. Beginning in October 2012, a staged process will be introduced which will require all employers to automatically enrol their workers into a qualifying pension scheme if they are not already enrolled in one ("auto-enrolment"). Employers will also be required to contribute towards workers’ pensions.
A new pension scheme called the National Employment Savings Trust (NEST) has been established by the Government to provide a simple, low-cost pension scheme. Employers may choose to enrol employees into a NEST scheme or another existing pension scheme.
This is the fifth oral evidence session for this inquiry. The committee will question The Pensions Regulator on regulation of the new pension scheme, compliance measures, its communication strategy with employers and individuals, and on governance and best practice in defined contribution (DC) schemes more broadly.
The committee expects to hold its final evidence session for the inquiry on 25 January 2012 with Steve Webb MP, Minister for Pensions. Further details about this session will be available in due course.