PensionsThursday 5 August 2021
David Pollard‘s fifth video in a series on “Fines, Crimes and Penalties” under the new Pension Schemes Act 2021. A discussion of the new “financial penalty” (of up to £1m) in relation to providing information to pension scheme trustees (of a DB scheme). When it comes into force, a penalty can be charged by the Pensions Regulator if information is “knowingly or recklessly” provided which is “false or misleading in a material respect”. The new financial penalty can apply to any information provider. Slides available here.
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