Make sure you have the right people on the trustee board and a strong chair of trustees so that your pension scheme can be well governed and members’ interests are protected.
Make sure your trustee board has the right governance and the skills and knowledge to work effectively together, and with pension scheme advisers, so that good decisions are made and members’ interests are protected.
Make sure you have the right investment governance arrangements, involving the right advisers, and that the investment strategies you put in place provide the best chance for your pension scheme members to get a good outcome.
Make sure you understand your pension scheme members’ views and needs, and you communicate with them at the right time and in the right way to help them make good decisions. Understand your duty to prepare a chair’s statement and report information to us.
You should check the quality of your scheme providing defined contribution (DC) benefits by referring to the DC code and related guides.
If the defined contribution scheme you run fails to meet legal requirements, we will consider various options (such as educate, enable or enforce) and take action where necessary.
If you need to close the defined contribution scheme that you run, you must wind it up efficiently and properly.