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Taking pension scheme standards into the 21st century.

16th Nov 2017
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The Pensions Regulator(TPR) has recently launched a campaign to raise the standards of workplace pension schemes. The campaign is being referred to as “21st Century Trusteeship – raising the standards of governance”. The decision to raise the standard came after numerous pension trustee boards, particularly those of small and medium automatic enrolment pension schemes, had failed to meet The Pensions Regulator's expected quality of governance.

 

A key part of the campaign was sending an email to all trustees, scheme managers, employers and payroll advisers directing them to a new page on The Pensions Regulator's website. The new page contains precise and relevant content that highlights clearly, the standard that is expected from pension schemes.

 

The main aim of the campaign is to raise the standard and ultimately protect every individual saving into a workplace pension scheme. TPR also plans to add several more topics to the webpage in the coming months. Some of which include:

 

  • upskilling and training
  • managing conflicts of interest
  • managing risk
  • meetings and decision-making

 

Written by Cailín Reilly | BrightPay payroll software

 

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