What is the role of the pensions regulator under the Pensions Act 2004?

The role of the pensions regulator under the Pensions Act 2004 is focused on overseeing the governance and financial health of occupational pension schemes. This involves ensuring that pension schemes are well-managed and that they meet their obligations to members. The regulator is tasked with protecting the interests of scheme members by enforcing compliance with pension laws and regulations.

One key aspect of this role is to assess the impact on occupational pension schemes, which means monitoring and regulating how they are funded, the risks they take on, and ensuring that they can fulfill their promises to pensioners. The regulator also has the power to intervene if a scheme is deemed to be at risk of failing to meet its obligations.

In contrast, the other options mentioned pertain to areas that fall outside the primary responsibilities of the pensions regulator. Assisting in employee recruitment does not relate to the regulation of pension schemes. Setting tax rates for pension contributions is handled by the Treasury and HM Revenue and Customs, not the pensions regulator. Evaluating the performance of investment portfolios is typically the responsibility of fund managers and not directly within the remit of the pensions regulator, which focuses on compliance and governance issues rather than investment performance metrics.