Trustees

Record-keeping

Maintaining accurate and up-to-date records is one of the most important tasks that you have as a trustee. The following guidance and resources are designed to help you ensure that your records are correct and up-to-date.

Record-keeping standards

The deadline for meeting the common data standards set out in our record-keeping guidance was 31 December 2012. We're conducting a review with over 200 schemes in early March 2013 to see if the standards are being achieved.

If you're selected, it doesn't necessarily mean we expect there to be problems with your scheme's records. But if we find you haven't acted in line with your record-keeping duties, we may take enforcement action.

We're also increasing our focus on 'conditional' data - this is additional and more detailed data such as the employing company and the date of a member leaving the scheme. We'll be measuring the standard of this data in our 2013 record-keeping survey.

Checklist Record-keeping: a progress check for trustees (PDF, 96kb, 6 pages)
Published: September 2012

Key tasks that trustees have to carry out to meet the common data standards
Webinar Webinar: Record-keeping and the common data targets
Published: September 2012

This 45 minute webinar provides you with information about where we expect schemes to have taken significant steps to meet the targets set out in our 2010 guidance
Guidance Record-keeping
This updated guidance describes an approach that we consider to be good practice for measuring the presence of member data items which are important in the administration of a pension scheme

The common data table tells you which items are required for all members of all schemes
E-learning Record-keeping review
Provides a flavour of the key impact of the effects of missing or inaccurate data (2 minutes).
E-learning Record-keeping
Explains why accurate and complete data is important for pension scheme trustees (12 minutes).
Guide Keeping member records up-to-date (PDF, 246kb, 1 page)
Download this one-page prompt sheet for suggestions on how you can work with your administrator to ensure accurate member records
Statement Member record-keeping: what trustees can expect from statutory auditors (PDF, 138kb, 4 pages)
Published: February 2011

A statement to help you understand the extent and limits of the auditor's work in a statutory pension scheme audit
Report Scheme record keeping (PDF, 880kb)
A report on the 2012 scheme record keeping survey - the research shows encouraging progress on scheme data quality, however there is still significantly more for some schemes to do to ensure they maintain accurate records

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Record-keeping

Record-keeping standards

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