Pensions Regulator updates guidance on third-party applications

The Pensions Regulator has updated its guidance on how third parties may submit applications asking it to exercise certain of its regulatory powers. 

Third parties may apply to the Regulator for it to exercise a regulatory power including appointing an independent trustee, revoking an order prohibiting or suspending a trustee, extending the deadline for a cash equivalent transfer and issuing a revised contribution notice. Those able to make an application may include members, trustees, scheme managers and sponsoring employers.   

The guidance clarifies the information the applicant should include for an effective application and issues to be considered before an application is made. The guidance also explains how the Regulator will progress an application, how an applicant can withdraw an application, and how to challenge a decision.