TPR publishes updated guidance for third-party applications

The Pensions Regulator (TPR) has published updated guidance to help pension schemes make third-party applications, including those to appoint an independent trustee (IT).

The updated guidance aims to help applicants know what information to supply so that their applications can be assessed as swiftly and effectively as possible.

The guidance includes links to bespoke application forms and explains the roles of the applicant, TPR's case team, and the Determinations Panel (DP).

It also highlights the applicant's responsibility to prove in their application that the relevant power should be used.

The DP, a separate and independent TPR committee, decides whether to appoint an IT and use certain other third-party application powers.

Other types of third-party applications include, for example, waiving trustee disqualifications or revoking a prohibition order.

Those able to make these applications will depend on the power being considered, but they may include trustees, scheme managers, and pension scheme sponsoring employers.

These applications can be made to TPR, which assigns a case team to help present them to the DP.

TPR executive director of regulatory compliance, Gaucho Rasmussen, said: "We can use a range of powers to help protect savers' pensions, but when people ask us to step in, we need evidence that it is in the interests of members and those directly affected.

"If you are making an application to us, we hope that by following our guidance, the process will be as smooth as possible," he added.



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