Governance requirements applicable to DC occupational pension schemes
Governance requirements applicable to DC occupational pension schemes

The following Pensions practice note provides comprehensive and up to date legal information covering:

  • Governance requirements applicable to DC occupational pension schemes
  • Governance requirements introduced with effect from 6 April 2015
  • Guidance from the Pensions Regulator
  • What is a 'relevant scheme'?
  • What governance requirements apply to 'relevant schemes'?
  • What is a 'relevant multi-employer scheme'?
  • Temporary exemption for ex-public sector schemes
  • Meaning of ‘connected’
  • What governance requirements apply to 'relevant multi-employer schemes'?
  • Ensuring compliance with the legislative governance measures
  • More...

IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. At this point in time (referred to in UK law as ‘IP completion day’), key transitional arrangements come to an end and significant changes begin to take effect across the UK’s legal regime. This document contains guidance on subjects impacted by these changes. Before continuing your research, see Practice Note: Brexit and IP completion day—the implications for pensions.

CORONAVIRUS (COVID-19) UPDATE: As a result of the coronavirus pandemic, the Pensions Regulator (TPR) issued various guidance documents, including DC investment: COVID-19 guidance for trustees which, among other things, informs trustees of the investment risks faced in a DC scheme and confirms that TPR expects trustees to prioritise DC transfers-out and, having carried out appropriate due diligence, process such transfers within a reasonable timeframe.

On 3 April 2020 TPR released further guidance to assist trustees (and those running public service schemes) with the administration of pension schemes during the coronavirus pandemic and emphasised the importance of trustees working with the scheme’s administrators and that focus should be on critical processes such as paying members’ benefits, retirement processing, and bereavement services.

TPR also issued an update on reporting duties and enforcement activity, confirming that (i) TPR would accept delays in

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