An IDRP is part of a scheme’s core governing policies. However, is your scheme’s policy compliant with the statutory and General Code requirements? Most occupational pension schemes are required to have an IDRP and it forms part of the...
In a first for a UK census, the 2021 England & Wales census asked the public to record their sexuality and gender identity and over 250,000 people living in England & Wales identified as a gender different to that assigned at...
It’s time for schemes to put pen to paper and document their policy on remuneration. While recent blogs in our General Code Corner have looked at working out what gaps there are in your scheme’s processes and policies and how to fill...
In June, the rainbow flag symbolising LGBTQIA+ pride can be seen blowing in the summer breeze. The rainbow flag represents the diversity of the LGBTQIA+ community and the spectrum of human sexuality and gender. Pension schemes are...
In the previous blog in our General Code Corner, we looked at how trustees can develop a strategy for prioritising and filling in any gaps in their policies and procedures. Below, we consider how trustees can bridge those gaps in the...
“This should not have happened”, says the statement on Australian pension fund UniSuper’s website, referring to a technical error that led to widespread disruption. The exact cause of what went wrong is unclear. But an “inadvertent...
As a lawyer, my favourite answer to any question is “it depends”. But it is a truly fitting response to the question “Can surplus scheme funds be returned to the employer?” Rising funding levels and maturing schemes mean...
Find the gaps Are you wondering where to start or to resume work relating to the General Code? There’s no need to panic! Many schemes will already be operating policies, procedures and other governance tools, and completing a gap...
It’s an interesting time to be a trustee of a DB scheme. For the first time in a long time, many DB schemes are in a favourable funding position and, with the new DB funding regime around the corner, are going to have to look ahead and...
Following publication of the final version of TPR’s new general code of practice (the “Code”) in January 2024, the Code came into force on 28 March 2024. Signifying a new era for pension scheme governance and compliance, trustees...
