The Pensions Regulator

Our regulatory powers

Broadly, our powers can be divided into the following types:

• Preventive - used where there is an immediate or chronic risk to members' benefits.
• Detective - used where we need to investigate the cause or consequences of a particular problem.
• Educative - used where it is clear that the trustees or others do not have the necessary knowledge and understanding to carry out their duties.
• Remedial - used where benefits have been damaged and we want to reinstate them.
• Penalties - used to emphasise the importance and value of compliance in protecting members' benefits, and to deter future non-compliance.

Not all powers can be used in all situations - many are quite specific to an event or a set of circumstances. Most are designed to achieve a particular type of outcome, while others are more flexible and enable the Pensions Regulator to tailor their effect to suit the situation and to achieve the desired outcome.

The Pensions Regulator's staff have the discretion to use some of the powers - for example, improvement notices - but the majority can be used only with the consent of the regulator's determinations panel.