The role of the Occupational Pensions Regulatory Authority (OPRA) is to help keep benefits safe by securing compliance with the many obligations imposed by the Pensions Act 1995.

OPRA's operational role will begin on 6 April 1997, the same time as much of the legislation comes into effect.

Among its obligations are:-- the appointment of member-nominated trustees, ie employee representatives;-- to see that trustees, rather than lawyers, choose and control professional advisers;-- to give a clear statement of delegation to pension fund managers and professionals;-- to require scheme auditors and actuaries to whistle-blow if the law is broken;-- to ensure a minimum funding requirement for final salary schemes;-- to control investments in the employer's business and govern the movement of scheme assets;-- to require internal dispute procedures;-- to give regular information to scheme members about their likely benefits and the state of their pension fund.The sanctions available to OPRA will include the power to disqualify trustees and to impose civil penalties of up to £50,000.

OPRA will be able to take criminal proceedings against those who obstruct its work.

OPRA will also be able to sue in the High Court to recover wrongly appropriated pension fund assets.OPRA owes its existence to the Maxwell saga.

Professor Goode's committee (see p.35) proposed a new regulatory regime, paid for by the taxpayer.

For every breach of pensions legislation, there would also be a sanction.

The government accepted this last proposal but rejected the idea that the new regime should be paid for by taxpayers.

The government also rejected a proposal for annual returns for each occupational pension scheme, similar to that provided by firms of solicitors.

It believed that the administrative burden, particularly on small schemes, would far outweigh any benefit that might accrue.

Exactly the opposite conclusion was made by the Dutch Pensions and Insurance Board, which found that the failure to supply a return is a good indicator of more serious problems in a pension fund.Pension schemes will, however, be asked annually for some basic information at the same time as they are asked to pay a levy to meet the costs of OPRA, the pensions ombudsman, the Pensions Advisory Service and the newly created Pensions Compensation Board -- which fulfils a similar function to the compensation fund that deals with dishonesty by solicitors.

However, it differs from the solicitors' fund in that it is statutory and, although there is no limit on the amount that can be paid from it, it is only designed to meet 90% of any individual's loss.The new legislation has kept many professional advisers busy.

Perhaps the involveme nt of lawyers will soothe worries that great burdens will be thrust on trustees by the legislation.

OPRA has made it clear that the existence of the range of penalties for breaches of the regulations does not mean that it intends to use them all from day one in every conceivable circumstance.The Pensions Act means to raise the standards of administration of all schemes to the level already achieved by many of the well organised schemes.

It is also about emphasising to the various players what their responsibilities are.Trade unions often prepare their employee representation better than those who represent the employer.

Once appointed, all of them have the same duty to do what is best in the interests of those for whom the fund has been established, in accordance with the trust deed, the general law, and the obligations laid down by the Pensions Act.

Trustees who attend and learn from the many training courses available, who read their papers and ask sensible questions, will have little to fear from OPRA.

Where they do find something wrong, they will be encouraged to discuss it with their professional advisers and OPRA will have a helpline available.

The fact that pensions law rests so strongly on the law of trusts is a further reminder of a field in which lawyers' unique training can give fresh insight.

Lawyers should not miss these opportunities.John Hayes is the chairman of OPRA.