Regulator orders pensions trustees to check data
The trustees of hundreds of pension schemes are to be ordered to urgently review the data they hold as part of a crackdown on poor record-keeping by The Pensions Regulator (TPR), which could result in fines of up to £50,000 for those found to be non-compliant.
TPR is asking the trustee boards of 400 schemes to conduct a data review within six months. These schemes are believed to have failed to review their data in the last three years, and include defined contribution, defined benefit and public service schemes.
Read more at the Accountancy Daily.