The Pensions Regulator has an important job overseeing how pension schemes are run. They’re funded by a levy charged to pension schemes – a levy which the Clara Pension Scheme will pay. That levy also funds the Pensions Ombudsman (TPO) who decide on pension disputes. It also makes up much of the funding of the Money and Pensions Service (MaPS) who provide free and independent guidance on financial matters. They’re also developing the Pensions Dashboard where you’ll be able to see all your retirement savings in one place.
We support The Pensions Regulator, TPO and MaPS being well-funded. We think though that the Government could make some changes to who pays how much. You can find our full response here.