Key organisations
Pension Protection Fund (PPF) – Compensation scheme for defined benefit pension schemes when the sponsoring employer becomes insolvent and whose liabilities are greater than its assets.
The Pensions Regulator (TPR) – Regulator of workplace pension schemes. Objectives are: to protect benefits of members of workplace pensions, reduce the risk of situations arising that lead to claims for compensation from the PPF and to maximise compliance with auto-enrolment legislation.
Pensions Ombudsman (PO) – Statutory dispute resolution service for complaints about pensions administration.
Financial Ombudsman Service (FOS) – Statutory dispute resolution service for financial services sector, with the exception of pension administration. For pensions it only covers the mis-selling of pension products.
Financial Conduct Authority (FCA) – Regulates standards of conduct in financial markets and supervises the infrastructure that supports those markets. Objectives are to promote competition in the interests of consumers, protect the integrity of the financial system and secure consumer protections. It also regulates independent financial advisers.
Money and Pensions Service (TPAS) – Independent voluntary organisation funded by the Department for Work and Pensions that provides information and guidance to the public on workplace and state pensions.
Pension Wise – Produces online content, telephone guidance and face-to-face meetings for those aged 50 or over with defined contribution pensions who are considering their options for retirement. This service is funded by a levy.