Question to the Department for Work and Pensions:

To ask Her Majesty's Government how many contribution schedules to a pensions scheme have been issued by the Pensions Regulator since it was established in 1996; and what assessment they have made of the number of schedules issued.

The independent Pensions Regulator was established by the Pensions Act 2004. Its predecessor, the Occupational Pension Regulatory Authority did not have the same level of powers as the Regulator does now and was not able to issue a schedule of contributions.

The legislative framework within which the Regulator operates gives it a range of powers to protect the benefits of members of occupational pension schemes. It is down to the Regulator to decide which of its powers are appropriate in each investigation it undertakes.

Contribution schedules are required to be agreed by the trustees of the pension scheme and the sponsoring employer. However, where agreement cannot be reached, the Pensions Regulator has the power to set the schedule of contributions in relation to a recovery plan. Since this power was introduced, the Pensions Regulator has issued one warning notice, but has never been required to exercise the power to issue a schedule of contributions.