- TPR updates its contribution notice Code of Practice—is it now clear what the new tests might catch?
- What was the background to the consultation?
- What was the outcome and have any changes been made?
- What are the practical implications for scheme sponsors?
Pensions analysis: The Pensions Regulator (TPR) has finalised the update to its Code of Practice 12 along with the Code-related guidance. The Code needed adjusting to incorporate the two new contribution notice tests—the ‘employer insolvency test’ and the ‘employer resources test’ introduced by the Pension Schemes Act 2021 (PSA 2021) and operational from 1 October 2021. David Everett, partner at Lane, Clark and Peacock examines the consultation and its implications.
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