The Pensions Regulator : progress in establishing its new regulatory arrangements, fifteenth report of session 2007-08, report, together with formal minutes, oral and written evidence

"The Pensions Regulator: Progress in Establishing its New Regulatory Arrangements (HC 122)" follows an October 2007 report from the National Audit Office on the same subject ("The Pensions Regulator: Progress in Establishing its New Regulatory Approach (HC 1035") - ISBN 9780102951219).Some four million people are still active contributors to work-based pension schemes (final salary schemes), with approximately 20 million people having at some point contributed to such schemes, with the value of the managed funds exceeding GBP 700 billion.

The Pensions Regulator (TPR), established in 2005, took over regulatory responsibility for such schemes.The conclusions include: the Committee states that the TPR has acted to put the regulation of such schemes on a firmer footing, taking greater account of risk, and possesses stronger powers to obtain information and intervene to protect members' benefits; the Committee also states that the TPR has made a slower start in the regulation of money purchase schemes, with room for improvement in the standards of scheme governance and communication with members; and, further work is also required to improve the information held by the TPR about schemes and to make use of that information to effectively regulate individual schemes.