The Pensions Regulator (TPR) has warned pension scheme trustees to check if they fall under master trust legislation to avoid falling foul of the law.

The Pensions Regulator (TPR) has hailed what it called a “clearer, quicker and tougher approach” for encouraging more trustees to “do the right thing” sooner.

Two men who put pension savers’ money into eucalyptus farms, hotel rooms on an African island and car park bays have been banned from acting as pension trustees.

Four trustees of a master trust, who failed to promptly invest members’ savings for three years, affecting 9,081 members and contributions of £1.4 million, have been fined by The Pensions Regulator (TPR).