The Pensions Regulator (TPR) has published its annual report and accounts for the financial year 2007/2008. The report highlights TPR’s activities over the past year which include the publication of the revised clearance guidance and its consultation on its draft conflicts guidance.
In its annual report TPR comments that:
- in regards to scheme funding recovery plans TPR has not yet found it necessary to use any of its powers but there are a number of cases which are in the early stage of the process; and
- there has been a fall in the number of enquiries regarding clearance but the nature of the enquiries have become more complex.