Auto-enrolment a top priority for Pensions Regulator

Preparing for auto-enrolment is among The Pension Regulator’s (TPR) top priorities set out in its corporate and business plan 2010-2013.

Improving standards of governance and administration, and filling deficits as soon as affordable also feature among the top priorities in the regulator's fourth corporate plan.

The regulator says it will support employers to understand their auto-enrolment duties and design an effective compliance regime.

It says, over the next three years, it will continue to highlight to trustees the importance of setting viable funding targets, while agreeing with employers that any resulting deficit is filled as quickly as possible.

The regulator will focus on defined contribution delivery standards and will look to trustees and providers to ensure they are suitable for members, while effectively run.

TPR chief executive Tony Hobman says: "Our goal will be to maintain a sharp focus on protecting members' pension benefits and the PPF, taking regulatory action if necessary, without creating unnecessary burdens on businesses."

The plan also says it aims to improve standards of administration across the industry, continue to raise standards of governance by trustees, and continue to monitor transfers of pensions risk away from employers to ensure members' benefits are protected.

The regulator adds it will continue to direct its resources in the areas of greatest risk to members, while educating and enabling the industry to respond and reduce the risk of calls on the Pension Protection Fund.

The watchdog adds it will issue a consultation on its enforcement strategy for employers' duties to auto-enrol employees into pension schemes from 2012.