Your duties are wide-ranging - from the collection of contributions to the investment of assets and payment of benefits. Scheme members look to you to make sure that their pension benefits are secure.
You need to focus on a number of areas if your scheme provides defined contribution (also known as ‘money purchase’) benefits.
You can fulfill your reporting requirements using our online service Exchange. It allows you to share information about your work-based pension scheme with us.
If you run a master trust you need to comply with duties set out in the Pension Schemes Act 2017. Some of these duties start immediately.
If you run a scheme that offers mixed benefits (sometimes known as a 'hybrid scheme') you need to manage the defined benefit (DB) elements as if they were a DB scheme and manage the defined contribution (DC) elements as if they were a DC scheme.