TPR adds new members to determine master trust authorisation

The Pension Regulator’s (TPR) Determinations Panel has recruited five members, as it prepares to rule on master trust authorisation applications. Three new members, Sarah Chambers, Antony Townsend and Mike Urmston, will take up their posts in September, the regulator has said.Existing members Tony Foster and David Latham have also been re-appointed to the panel for a second term.The appointments mean the panel will increase from nine to 12 members between next month and next July, as it increases its capacity to consider applications by master trust schemes for authorisation as part of new legislation to protect savers.From October the Determinations Panel will consider authorisation applications from existing master trusts, which intend to stay active in the market after looking at recommendations put forward by TPR staff.Current panel members Elizabeth Neville, Alasdair Smith and Peter Hinchliffe will step down in July 2019 after completing their second four-year term.The panel is responsible for making formal decisions relating to cases where TPR seeks to use certain powers. It has the power to make a determination where TPR takes action in relation to a breach of pensions law, a problem has arisen in a scheme that TPR considers can be put right with the use of one of its powers, or an application has been made by trustees, managers, members or employers of a scheme for TPR to use one of its powers.It operates separately from other parts of the organisation, including the case teams, and is not involved in investigating cases.Panel chairman, Andrew Long, said: “I am very pleased that we have attracted such highly-qualified individuals to the Determinations Panel.“They will bring a range of experience to the roles, joining a panel that deals with important cases and issues at what will be a particularly busy time because of the new master trust authorisation process.“I would also like to thank the panel members who will step down in July next year for their contribution to the panel since 2011.”

TPR adds new members to determine master trust authorisation

Related items

News from Twitter