09 May 2007
The Pensions Regulator has issued its Corporate plan 2007-2010,
which sets out the regulator's strategy and aims, and explains how
its resources will be deployed over the next three years to deliver
its risk-based approach to regulation.
The Corporate plan 2007-2010 outlines the regulator's
priorities, as follows:
(1) Defined benefit scheme funding will be strengthened by
completion of scheme specific valuations and those schemes with
deficits will have agreed recovery plans
(2) Governance of work-based pensions will be improved via a
year-on-year improvement in the extent to which trustees
demonstrate knowledge and understanding of governance
requirements
(3) Risks to members of defined contribution schemes will be
reduced via raised understanding amongst trustees and others
involved in running defined contribution schemes
The Corporate plan 2007-2010 sets out the regulator's strategy
and aims, and explains how its resources will be deployed over the
next three years to deliver its risk-based approach to regulation.
It also highlights progress made in the development of the
regulator: its systems, culture, business processes, and delivery
of the regulatory framework required by the Pensions Act 2004.
Pensions Regulator chief executive Tony Hobman said: "We have
built a strong basis for further development relating to our core
themes of strengthening scheme funding, improving the governance of
work-based pensions, and addressing the risks to defined
contribution scheme members; delivering risk-based regulation.
"Our overriding goal is to meet our statutory objectives,
working efficiently and in partnership with the regulated
community, government and representative bodies. This plan will
enable us to deliver against the statutory objectives and key
challenges set out in our medium term strategy."
