Robin Ellison

The regulatory framework is too restrictive and The Pensions Regulator (TPR) is hampered by conflicting objectives, Robin Ellison and Chris Martin told a parliamentary inquiry today.

"We must do something, this is something, therefore we must do this," is the politician's fallacy famously expounded by Sir Humphrey Appleby in the BBC sitcom Yes, Prime Minister.

The Pensions Regulator (TPR) has provided little evidence of hard action despite being aware of problems at Carillion since at least 2008, Work and Pensions Committee (WPC) chairman Frank Field has said.

The Pensions Regulator (TPR) failed to use its powers to force Carillion to pay higher contributions into its schemes despite trustees repeatedly raising concerns over the issue, Robin Ellison has said.

The Work and Pensions Committee (WPC) and the Business, Energy and Industrial Strategy Committee (BEISC) will hold two sessions to probe why Carillion went into liquidation.

Robin Ellison says regulators need to seize the initiative and explain both to themselves and to scheme members that investment risk is a good thing.

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Robinson Ellison says the industry must "act together" to avoid excessive intervention from The Pensions Regulator (TPR).

Robin Ellison says the regulator now sees trustees as 'inefficient and lazy' people who need 'prodding and punishing' into compliance.

The watchdog's approach has become too aggressive in the last year and it seems to be moving away from a risk-based approach, according to Peter Askins.