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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.


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

You can also read more information about the consultation.

Board structure and activities

How a governing body should be set up including making appointments, the role of the chair, and meetings and decision making.

Knowledge and understanding

The level of understanding and knowledge that governing bodies need to have and to maintain.

Value for members

What governing bodies of defined contribution schemes must do to measure the value offered to members.

Managing advisers and service providers

How governing bodies should appoint and manage relations with advisers and service providers effectively.

Risk management

Identifying and mitigating risks facing a pension scheme, using internal controls and handling conflicts of interest.

Scheme governance

Having effective systems of governance to make sure the pension scheme operatives and manages risks effectively.