The September 2025 Regulatory Round-Up from The Pensions Regulator (TPR) covers a wide range of updates, including administration standards, defined benefit (DB) scheme funding, pensions dashboards, and new enforcement strategies.
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Regulatory Round-Up
The September 2025 Regulatory Round-Up from The Pensions Regulator (TPR) covers a wide range of updates, including administration standards, defined benefit (DB) scheme funding, pensions dashboards, and new enforcement strategies. It highlights improvements in DB scheme surpluses, shorter recovery plans, and lessons learned from the liability-driven investment (LDI) crisis. Trustees are also reminded of upcoming requirements such as valuation submissions and scheme return deadlines. These developments collectively reflect TPR’s push for higher governance standards and stronger scheme resilience.
One of the most pressing issues raised is the growing threat of pension scams and fraud. TPR warns that fraudsters are increasingly using illegally obtained personal data to gain access to members’ pension accounts. This kind of “account takeover” fraud poses a serious risk, as criminals can potentially redirect funds or manipulate transfers before trustees and providers realise what has happened.
Trustees and administrators are urged to treat this as a priority area, building stronger cyber defences, tightening verification processes, and monitoring unusual activity. Collaboration with regulators and industry bodies is also encouraged to share intelligence on emerging threats. Ultimately, while pensions policy and funding remain key themes, TPR’s strong focus on scams reflects the real and immediate danger to savers’ security in today’s digital environment.
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