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Draft code of practice

This code of practice sets out the standards that The Pensions Regulator expects those running workplace pension schemes to meet.

Published: 17 March 2021

Important

Early draft of the code of practice

This code is not in force yet. It is an early version for the new code of practice consultation.

To give us feedback on issues such as the design, usability and navigation of this code, email us at webfeedback@tpr.gov.uk.

To provide feedback about the text of the code, submit a response to the consultation.

Introduction

Who the code of practice applies to, how governing bodies of pension schemes should use it and our powers.

The governing body

What the governing body of a pension scheme needs to know and the structure, systems and controls it should have in place.

Funding and investment

Investment governance and strategy requirements, environmental and social duties, and funding of defined benefit pension schemes.

Administration

Handling information, keeping records and data, and maintaining and monitoring contributions to the pension scheme.

Communications and disclosure

The communications that governing bodies must produce for pension scheme members and information they should make publicly available.

Reporting to TPR

What governing bodies must report to us including scheme returns and breaches of the law.