Regulator plans £50k fines for pension dashboard non-compliance

Failure to comply with the rules relating to the pensions dashboard will result in fines of up to £50,000 for businesses and individuals

The timetable for the launch of the pensions dashboard have been given a boost by the launch of a consultation on compliance and enforcement by The Pensions Regulator (TPR).

There is still confusion among some providers about how the dashboard will work. A recent Sackers’ survey showed that the lack of legislation and regulations was proving to be a stumbling block for schemes getting ready for the rollout of the dashboard.

The latest consultation looks at how the TPR will police schemes and is targeted at occupational pension schemes, administrators, providers, and the wider industry, outlining details of the plans for dashboards compliance and enforcement.

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