The Pensions Regulator

Code of practice 08
MNT/MND - putting arrangements in place

In this section...

Introduction

• The status of codes of practice

• Purpose of this code

• To whom does this code apply?

• Terms used in this code

• Changes to the legislation and the code

• The legislation and code at a glance

Application of the requirements

• Determining whether the requirements apply

• Determining which requirements apply

• Determining when the requirements apply

Compliance with the requirements

• Principles-based approach

• Putting arrangements in place

• What is a reasonable period for putting in place arrangements?

• Implementing arrangements

• What is a reasonable period for the nomination and selection process to take place?

• Recording compliance

Arrangements

• What are arrangements?

• General considerations

The nomination process

• Who can be nominated as an MNT?

• Whom to involve in the nomination process

• Schemes with no active or pensioner members

• Involving organisations

• Using only representative organisations

• Examples of representative organisations

After nominations

• Fewer nominations than vacancies

• Re-running the nomination and selection process

The selection process

• Who can be selected as an MNT?

• Selection of a non-member

• Whom to involve in the selection process

• Methods of selection

• Examples of selection methods

Communication

• What should be communicated?

• Nomination

• Selection

• Outcomes

• How should trustees communicate?

Reviewing the arrangements

Corporate trustees

• A scheme has more than one corporate trustee

• A company is trustee of more than one scheme

Appendix A: Corresponding Northern Ireland legislation