Categories:Pensions,UK

The Pensions Regulator issues a new draft code of practice on DC trust-based occupational pension schemes

In the February edition of Pensions Pieces, Taylor Wessing referred to the Pensions Regulator’s consultation on its own package of measures aimed at occupational trust-based DC pension schemes. In July this year, the regulator published its response to the comments received in the consultation, and also laid before Parliament the final draft of a code of practice for trust-based DC pension schemes. It is expected that that code will come into force in November 2013.

The main areas covered in the code include: the trustees’ duty to have adequate knowledge and understanding in relation to their pension schemes; managing risk and ensuring there are adequate internal controls to deal with this and sufficient resource dedicated to maintaining the ongoing governance of the pension scheme; investment, which includes setting objectives, reviewing investment fund performance and the setting and review of the default strategy; conflicts of interest and how these can be dealt with, not only among the trustees but also when dealing with advisers and service providers; and administration, such as ensuring the completeness and accuracy of scheme data…

If you are registered and logged in to the site, click on the link below to read the rest of the Taylor Wessing briefing. If not, please register or sign in with your details below.

Briefings from Taylor Wessing

View more briefings from Taylor Wessing

Analysis from The Lawyer

  • singapore orchid

    Singapore: Cash course

    The city-state is working hard to become a global wealth management hub, and law firms are gearing up for a prosperous new world

  • Money 317

    Crunch boom

    Financial disputes are starting to dominate the English courts as the long-awaited fallout from the downturn finally comes to town

View more analysis from The Lawyer

Overview

5 New Street Square
London
EC4A 3TW
UK
http://www.taylorwessing.com

Turnover (£m): 228.00
No. of Lawyers: 860
No. of Lawyers (Asia Pacific): 79
Offices (Asia Pacific): 3

Jobs