TPR Update - June 2019
The Pensions Regulator has issued its corporate plan covering 2019-2022 covering the work that they do and their priorities for the next three years. You can read the plan here.
Further to the March article, TPR are continuing to develop their ‘scams prevention’ advertising campaign which is due to launch at the beginning of July. ICB will update you as and when we receiver further information.
Defined benefits schemes
There has been some publicity over the past few months concerning pension schemes that are giving cause for concern with regards to the funding. TPR have set out their clear expectations as to what they expect of employers and pension funds in order to ensure that pensions are protected. You can read more here.
This month the TPR messages have concentrated on part-time and seasonal workers which includes those who might only work for a few days, a few weeks or several months. The message for employers who take on seasonal staff is clear – seasonal/temporary staff will still need to be assessed to see if they need to be put into a workplace pension scheme – even if just one person is employed. The employer will need to take into account their varying earnings and hours, and that they may join and leave their employment in the middle of pay periods.
TPR’s website has lots of information about what automatic enrolment duties may apply when taking on seasonal or temporary staff. This includes advice, guidance and a short video. See more here.
If you want to find out more, information can be found from the Pensions Advisory Service here or on the TPR website here.