The Pensions Regulator has fined two more defined contribution schemes for failing to provide scheme returns.

As a result, the regulator has repeated its warning to trustees of DC schemes to comply with pensions law or face a fine.

The schemes in question are the New Station Bodyworks Ltd Retirement Benefit Scheme and the M Holleran Ltd Pension Plan. The regulator wrote to the schemes’ trustees on 15 March 2016 after they failed to provide a scheme return by the date set out in the notice.

TPR advised them that if they did not provide a scheme return by 1 April 2016, or tell them what reasonable steps they had taken in order to comply, they would issue them with a penalty notice.

The determinations panel, which exercises the power to impose a penalty under section 10 of the Pensions Act 1995 on TPR’s behalf, decided that a £300 penalty should be issued to each of the trustees, as neither of them had taken any reasonable steps to comply.

When the panel exercises a power, the directly affected parties have 28 days to refer that determination to the Upper Tribunal. Once the 28 day deadline has expired, if no reference has been made, TPR may issue the penalty notice. No reference was made in either case and £300 penalty notices were issued to each trustee on 7 September 2016.

In August this year the regulator revealed it had fined Pitmans Trustees Limited £6,000 for failing to prepare an annual governance statement signed by the chair of the trustees on three separate occasions.

The amount was made up of three £2,000 fines in relation to the trustee of the Precision Carbide Tools Limited Pensions and Life Assurance Scheme, the Comshare Retirement and Death Benefits Plan and the EBC Pension Scheme.

Commenting on the warning TPR executive director for frontline regulation Nicola Parish reminded trustees that providing information to TPR is an “essential part of a trustee’s role” and they are required by law to submit a scheme return and update their registrable information.

"We are supporting trustees in numerous ways, including new web guidance and news-by-email to help them understand how to complete the new scheme return in order to demonstrate they are meeting new governance standards.

"However, schemes should be aware that this type of breach will result in a fine and we hope that our latest intervention report will act as a reminder to all trustees to ensure they complete a scheme return on time. We will act where trustees demonstrate that they are not complying even with the basic duties.”

The current number of warning notices issued for the failure to submit a scheme return by the due date stands at 23.

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