Publication
Regulatory investigations and enforcement: Key developments
The past six months have seen a number of key changes in the regulatory investigations and enforcement space.
Pensions Regulator updates its initial dashboards guidance
United Kingdom | Publication | January 2025
On December 17, 2024, the Pensions Regulator updated its Pensions dashboards: initial guidance to include some changes to the way schemes and employers should manage the dashboards process.
The guidance is updated on a regular basis to reflect changes in industry guidance and feedback from stakeholders, as well as changes in legislation.
The most recent changes include:
- The "Matching people with their pensions" section has been updated to confirm that potential members will be verified by their GOV.UK One Login before they can issue a "find request". This method will also check any provided UK address exists and its association with the saver, through credit records.
- References to the appropriate sections of the General Code have been included.
- Additional information has been included for schemes with multiple sections or administrators to agree an approach for data discrepancies between sections.
All relevant schemes are due to complete their dashboard connection by October 31, 2026. However, the Regulator confirmed in a “town hall” event held by the Money and Pension Service in December 2024 that it will take a “pragmatic” approach to possible regulatory intervention if the provider for the scheme is unable to connect by their deadline solely because their third-party connector has not yet completed their own connection journey.
Partner
Email
lesley.browning@nortonrosefulbright.com
Recent publications
Publication
Pensions Ombudsman rejects claim for scam compensation when trustees had no duty of due diligence
In a recent determination, the Ombudsman rejected a scheme member’s claim that the trustees should have conducted due diligence on the receiving scheme before making a transfer in in 2014, as there was no duty of care on the trustees at the time of transfer.
Publication
Court of Appeal clarifies rules on compensation for "non-material" damage in data protection breaches
The Court of Appeal has confirmed that proof of disclosure to third parties is not required for data protection law breaches and that individuals’ rights are breached by unlawful “processing” alone.
Subscribe and stay up to date with the latest legal news, information and events . . .