Both the The Pensions Regulator and the Pension Protection Fund have called for the industry's watchdog to have stronger regulatory powers.
The Work and Pensions Select Committee has today (11 October) published evidence on its pensions regulation inquiry.
The PPF has called for a more interventionist approach to the regulation of scheme funding.
Additionally, it has called for TPR to have the power to require the winding-up of pension schemes at the request of trustees or the PPF, and the TPR to have punitive powers to fine employers who seek to avoid pensions obligations.
In its written evidence to the committee, the TPR stated it was right that the funding framework for DB schemes and associated regulatory regime should be kept under review.
The evidence noted drawing upon TPR's operational experience over the last decade, it has identified a number of ways in which it believe that the current legislative and regulatory framework could be improved.
These included enhanced information gathering and investigatory powers, as well as a further evolution of TPR's operational approach to focus more intensively on the schemes that present the greatest risk.
Additionally, they included greater flexibility over valuation periods, including requiring more regular valuations for higher risk schemes, and clarifying TPR’s scheme funding powers so that it can specify an appropriate level of funding and contributions.
Frank Field, chair of the Work and Pensions Committee, said: “The committee has received very important evidence from the Pension Protection Fund on lines we might take in strengthening the proactive powers and abilities of the regulatory machinery.
"While the committee will be considering these proposals in detail, the Pension Protection Fund gives us a very useful steer on reforms we may wish to propose to The Pensions Regulator and we will have a chance to put these ideas, amongst many others, to the Regulator when they come before the committee."
