The Pensions Regulator (TPR) has confirmed its decision to suspend GP Noble, and replace them as independent trustee, from a number of pension schemes.
The Pensions Act 1995 gives TPR power to suspend trustees. This prohibits the trustee from exercising any function as trustee of the relevant schemes during the period of suspension.
TPR comments that GP Noble’s actions in relation to certain schemes gave cause for concern but members’ benefits are not at risk.
TPR said that as these matters are subject to an ongoing investigation and the details of the case are restricted information under the Pensions Act 2004 and it is unable to comment further at this time.
This case is being widely reported as the first instance where TPR has used its powers to suspend an independent trustee.