The new general code, expected to come into effect in March, has been laid in Parliament.
The structure of the new code facilitates comprehension for governing bodies, simplifying the process of meeting The Pensions Regulator’s (TPR) expectations.
The code prompts governing bodies to evaluate their schemes in alignment with TPR standards, placing a particular emphasis on fostering effective governance systems and conducting thorough risk assessments.
TPR advocates for proactive engagement, encouraging schemes to actively align with the prescribed standards.
Those that do not meet the code’s expectations should take immediate action to improve their scheme’s governance.
Should you require assistance in strengthening your governance, feel free to reach out to us. We can help you.
Click here to read the general code of practice.