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th February 2021 3:57 pm
The Pensions Regulator has refused to be drawn on how it will use fresh powers derived from new laws.
Tougher measures to protect savers have become law as parliament passed the Pension Schemes Bill today.
It creates new laws covering areas including defined benefit scheme protections, pensions dashboards and climate change.
TPR can now issue fines of up to £1m for individuals who knowingly neglect their responsibilities to members.
Money Marketing asked TPR head of strategy Robert Holford what new power the watchdog would most like to use.
Responding to the question he said: “As TPR’s head strategist I would have to defer to my colleagues. We see the pensions bill as a key part of our strategy. I will leave enforcement to my colleagues. The publication of our final strategy will be at the end of the month.”