Marvin OnumonuThe Pensions Regulator (TPR) has updated its guidance to make the process simpler for people applying to use certain pension powers.
This includes applications to appoint an independent trustee (IT) when trustees are not doing their job properly.
Applications can also be made for things like waiving trustee disqualifications or revoking a prohibition order.
Depending on the situation, applicants could be trustees, scheme managers, or sponsoring employers.
The process involves sending an application to TPR, who assigns a case team to present it to the determinations panel (DP).
TPR’s guidance shows what information applicants need to provide, with links to application forms and a clear explanation of everyone’s roles.
The guidance also reminds applicants that it is up to them to prove why the power should be used.
Gaucho Rasmussen, executive director of regulatory compliance at the pensions regulator, said: “We can use a range of powers to help protect savers’ pensions, but when people ask us to step in, we need evidence it is in the interests of members and those directly affected.
“If you are making an application to us, we hope by following our guidance the process will be as smooth as possible.”
