Pensions Regulator could enter home workplaces under new powers
Should UK financial services firms be worried about the Pensions Regulator performing home inspections while staff are working remotely? Danyal Enver and Anne-Marie Winton report.
Danyal Enver is an associate and Anne-Marie Winton a partner, at Arc Pensions Law. Contact them on [email protected] and [email protected]
The Pensions Regulator may, under the current law, have the power to enter private homes if they are used by, or with the
permission of, the occupier, for trade or business purposes. The existing legislation has been in place since 2005, and it
allows the regulator to enter some premises at any reasonable time. This power is exercisable by the regulator in order to
gather information during certain, limited statutory investigations. However, the law is changing this Autumn when the Pensions
Schemes Act 2021 comes into force. As part of that, the regulator’s information-gathering and inspection powers will be extended.
Owing to the Covid-19 pandemic, there has been a switch to homeworking for many financial services firms. In addition, a lot
of these firms are considering a more permanent shift to homeworking post-pandemic. In light of that, we have taken a look
at which regulator powers financial services firms and other businesses (and their employees) should consider, covering both
the existing law and the upcoming legal changes.