TPR consultation on Regulating defined benefit pension schemes – an NAPF response
The NAPF welcomes the introduction of a new objective for The Pensions Regulator (TPR) to ‘minimise any adverse impact on the sustainable growth of an employer’ and the recognition of the importance of the employer’s long term support of the schemes.
However, success will depend on the consistent and accurate implementation by TPR caseworkers in their discussions with schemes and sponsors and whether TPR follows through on its undertaking to ensure that scheme risk is managed rather than eliminated.
TPR will need to apply a broad interpretation of growth, depending on scheme specific circumstances, and work closely with trustees to ascertain what employer growth means to them.