Watchdog doubles auto-enrolment enforcement spend

In its corporate plan, published yesterday, the watchdog revealed it was increasing its spend on AE from £21.3m last year to £40.4m this year. Funded through general taxation, spending on AE will account for 52% of the regulator's budget this year, compared to 37% in 2013/14. Regulation of defined benefit (DB) and defined contribution (DC) plans is funded through a levy on pension schemes, which has been frozen for the next two years. TPR plans to spend a total of £77.8m this year, with £20.9m committed to DB and £16.5m put aside for DC, governance and administration. The propor...