Established by the Pensions Act 2004, the Regulator became operational on 6 April 2005 and has responsibility for all work-based pension schemes (www.practicallaw.com/6-205-9095) in the UK. The Regulator replaced OPRA (www.practicallaw.com/7-107-6203) and consequently has wide ranging powers. The Regulator may investigate schemes, issue improvement notices and take action to recover unpaid employer contributions. It aims to give better protection to members of work based schemes.
For more information see the Pensions Regulator's website (www.practicallaw.com/0-203-9656).