Southern Water has agreed higher deficit repair contributions after an investigation carried out by the Pensions Regulator. The case demonstrates how the watchdog is taking action to ensure schemes are treated fairly, says Nicola Parish, executive director of frontline regulation.

Nicola Parish from the Pensions Regulator reminds defined benefit trustees of their duty to submit scheme valuations on time, and points to the emerging precedent of substantial fines for those who fail to comply.

The Pensions Regulator’s Nicola Parish looks at recent high-profile cases and what the regulator will do differently in future.