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UK regulator consults on whistleblowing

UK – The Occupational Pensions Regulatory Authority is consulting with the industry over guidance for voluntary whistleblowers, people who report potential problems with schemes.

“The Occupational Pensions Regulatory Authority invites comments from the pensions industry on proposed guidance for voluntary whistleblowers,” OPRA said in a statement.

The body has released a 76-page consultation draft on the power to report problems to OPRA – and says it welcomes feedback. The consultation period ends on January 29.

The guidance covers practical issues that non-statutory reporters may come across in the course of their work. These examples provide a benchmark for judging whether to report to OPRA.

It added that trustees and their professional advisers, scheme administrators and others with an interest can email their comments to rachel.low@opra.gov.uk

The draft outlines the circumstances in which pension scheme trustees and their professional advisers, pension scheme administrators and other service providers can report to OPRA.

The body recently introduced a 'traffic-light' system of reporting where breaches are classified by colour according to how serious they are.

OPRA has also recently changed its focus away from minor infringements, to deal instead with cases where it believes members’ interests are most at risk.

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