The Pensions Regulator

Code of practice 01
Reporting breaches of the law

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The Pensions Regulator's response to a report of a breach in the law

72. When the Pensions Regulator receives a report of a breach it has discretion over whether to take action and, if so, what action to take. The decision will depend on the breach and its circumstances and other information about the scheme notified to, or known by, the regulator.
73. The Pensions Regulator has a range of measures it can take, including:
    • assisting or instructing trustees and others to achieve compliance;
    • providing education or guidance;
    • appointing trustees to help run the scheme;
    • removing trustees from office;
    • freezing the scheme;
    • imposing special measures where the scheme funding requirements of the Pensions Act 2004 are not complied with;
    • ordering that the scheme's funding position be restored to the level before a breach or other detrimental event occurred; and
    • imposing fines where appropriate.

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