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RAA approval list

FOI reference - FOI 2017-07-05
Date - 05/07/2017

Request

Would you be able to send us a list of all the Regulated Apportionment Arrangement (RAA) that have been approved so far including the year they have been approved?

Or at least the total since the RAA process was introduced? Was this in 2008?

Response

I can confirm that we hold the information you have requested. However, we are unable to supply some of the information requested for the reasons set out below.

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 (PA04). 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

As we have been given strong powers to demand documents and other information from trustees, employers and others, those powers are also balanced by restrictions on how we disclose the information provided to us. We cannot release all of the scheme names to you, as this would be ‘restricted information’. Restricted information is defined at section 82(4) of the PA04 as:

‘…information obtained by the Regulator in the exercise of its functions which relates to the business or other affairs of any person’.

Under section 82(5) of the PA04 it is a criminal offence to disclose such information except as permitted under that Act.

Whilst the Freedom of Information Act (FoIA) is based on the presumption of releasing information, section 44(1)(a) of the FoIA provides an absolute exemption to the requirement to disclose any information if its disclosure is prohibited by or under any enactment. In this case, section 82 of the PA04 prohibits disclosure and we are unable to disclose the requested information. This exemption is absolute and does not require a public interest assessment be undertaken.

Duty to provide advice and assistance

There have been a total of 27 schemes in respect of which RAAs have received approval from us. Of these approved RAAs we have issued regulatory intervention (section 89) reports in relation to five of them, which can be found below:

The regulatory intervention reports provide details of the name of the company, date of RAA approval and name and approximate size of the scheme that they respectively concern.

We have not issued regulatory intervention reports in relation to the following companies or schemes, but the details of the RAA approval are in the public domain through the financial press and company reports. The companies or schemes concerned are as follows:

  • Dawson Holdings
  • The Aquascutum Life
  • Cattles Staff
  • Crittall