The role of the Pensions Regulator in respect of public sector schemes
Produced in partnership with David Gallagher of Fieldfisher
The role of the Pensions Regulator in respect of public sector schemes

The following Pensions guidance note Produced in partnership with David Gallagher of Fieldfisher provides comprehensive and up to date legal information covering:

  • The role of the Pensions Regulator in respect of public sector schemes
  • What are public sector pension schemes?
  • The management structure of public sector schemes
  • The powers of the Pensions Regulator
  • Code of Practice
  • Knowledge and understanding
  • Conflicts of interest
  • Managing risks
  • Records and administration
  • Maintaining Contributions
  • more

FORTHCOMING DEVELOPMENT: The Pensions Regulator (TPR) announced that it intends to review its codes of practice over the next year to reflect the Occupational Pension Schemes (Governance) (Amendment) Regulations 2018, SI 2018/1103 (the Governance Regulations) and that this is expected to involve combining the content of its 15 current codes of practice to form a single, shorter code. In doing so, TPR’s intention is to make its codes of practice quicker to find, use and update, so that trustees and managers of all types of scheme can be more responsive to changes in regulation. The Governance Regulations implement the new governance requirements of the EU’s IORP II Directive into UK law, which includes placing a new duty on the trustees or managers of occupational pension schemes under the Pensions Act 2004, s 249A (subject to limited exceptions) to establish an effective system of governance, building on the previous requirement for trustees to maintain adequate internal controls. The effective system of governance will need to include a documented risk assessment, and the single code of practice will reflect TPR’s expectations of this work. TPR’s current intention is to develop the new single code in phases, with early focus on the codes most affected by the Governance Regulations. It will review Code of Practice 9 (internal controls) and