The Pensions Regulator (TPR) has spent almost £3.2m on external barrister fees over the past two years, with one-third of those costs spent on one legal case alone, figures show.
A Freedom of Information request made by IFAonline's sister title Professional Pensions revealed the regulator paid £3,180,626 to external barristers in the last 24 months on a total of 40 cases, with the amount spent on individual cases ranging from £454 to £1,053,471. TPR refused to disclose a breakdown of costs for individual cases preventing the release of information relating to legal spend on the five “moral hazard” cases – which involve Financial Support Directions (FSDs) and Contribution Notices (CNs) – it prosecuted over the period. A lawyer said fees for moral hazard cases a...
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