Details of information provided to us by people with concerns about a workplace pension scheme.
As a public body The Pensions Regulator (TPR) is legally required to report on the whistleblowing disclosures we receive from certain workers. Whistleblowing is the term used when someone provides us with information concerning wrongdoing relating to their workplace pension. This is also known as a whistleblowing disclosure.
Under the Prescribed Persons (Reports on Disclosure of Information) Regulations 2017 we must report the following information every year:
- the number of disclosures we received (which met certain criteria)
- the number of those disclosures where we decided to take further action
- a summary of the action we took in relation to the disclosures
- a summary of how workers' disclosures have impacted our ability to perform our functions and meet our objectives
- an explanation of our functions and objectives
Number of disclosures 2022 to 2023
We received 7 disclosures during the reporting period of 1 April 2022 to 31 March 2023 which fell within the remit of our statutory functions and objectives.
Number of disclosures and summary of actions
We took further action in relation to all 7 of the qualifying disclosures, the majority of these disclosures were reporting a suspected breach of pension regulations.
In the instances where we took further action, we used the information to support our supervisory work or shared information with our regulatory partners.
The action we take is consistent with the principles set out in the Regulator’s Code. We are a risk-based regulator that must carry out our activities in a way which is proportionate, accountable, consistent, transparent and targeted. In this context, whistleblowing disclosures help us to inform our intelligence and enforcement action and take action where we see it as appropriate.
In instances where we did not undertake enforcement action due to a disclosure not meeting the qualifying criteria, the information gathered was used to inform our strategic intelligence picture.
How disclosures impact on our objectives
All actions taken, either as a result of a disclosure or informed by a disclosure, contribute towards the achievement of our objectives.
Changes to reporting figures
Last year we reported about TPR undertaking a comprehensive assessment of its whistleblowing reporting policy. As a result of this review a new policy was implemented, precisely outlining the definition of a 'whistleblower' from TPR’s perspective. Consequently, there has been a reduction in the number of reports which met the specified criteria. We do, however continue to receive a large volume of reports from savers and our regulated community highlighting concerns in relation breaches of pension regulations.