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Consultation for Draft Code of Practice and Draft Regulatory Strategy

27 May 2014

The Pensions Regulator’s draft code of practice sets out certain requirements of pensions legislation and practical guidance about those requirements, as well as the standards of conduct and practice it expects from scheme managers and members of pension boards in the governance and administration of their schemes.

The Pensions Regulator’s draft regulatory strategy sets out its developing regulatory strategy. It describes how they will approach educating and enabling regulated entities, and, where necessary, taking enforcement action in respect of the underlying legal requirements relating to public service pension schemes.


The Consultation Process

The Pensions Regulator has already consulted on the draft code of practice and draft regulatory strategy in Great Britain for the schemes that will be made under the equivalent Westminster Public Service Pensions Act 2013.

The Regulator now invites comments from all those who are involved with the Northern Ireland schemes to which the code and strategy will apply, along with members of such schemes or their representatives.

The Pensions Regulator is particularly interested to hear from those who expect to become members of pension boards and/or who are currently involved in governing or administering an existing public service scheme.

The Pensions Regulator’s consultation is published on the Pensions Regulator’s website. The consultation document can be accessed via the link below:

 www.tpr.gov.uk/public-service-NI 

The closing date for responses is 17 July 2014. Submissions should be made directly to the Pensions Regulator in line with the directions provided in the consultation document.

 

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