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Number of RAA applications and approvals

FOI reference - FOI 2017-07-06
Date - 06/07/2017

Request

Could you please let me have the number of Regulated Apportionment Arrangements (RAA):

  1. approved for each year since they been operating
  2. applications for each year since they been operating

Response

I can confirm that we hold the information you have requested.

Information we are able to supply

I can confirm that since 2009, when we began to exercise our power to approve an RAA, we have used the power in relation to 27 schemes*. The number of times we have used this power year by year are as follows:

Year Number of schemes where an RAA has been approved
2009 3
2010 5
2011 3
2012 2
2013 7
2014 5
2015 0
2016 1
2017 1

*As part of a review of how we record RAA approvals, we have added another that was not included in our original answer. On this basis, we had approved RAAs in respect of 28 schemes, four of which were approved in 2009, on the date this response was issued. The Pensions Regulator (TPR) has also previously disclosed details of a number of RAAs that are in the public domain but that have not been the subject of regulatory intervention reports by TPR, under section 89 of the Pensions Act 2004. Following our review, we can further confirm that details of an RAA relating to the Jessop Group Limited Pension and Life Assurance Scheme (1993) are publicly available through the financial press and company reports.

Information we are not able to supply

We cannot provide definitive information on the number of applications we have received in total. This is because most of the applications initially come as draft applications or outline proposals and if they are not acceptable to TPR then no formal application is submitted.