The table below shows how information from our existing codes of practice has been used in the modules of the proposed new code.
This information forms part of our consultation on the new code of practice.
| Module in new code | Information used from existing codes |
|---|---|
| Role of the governing body |
Code 13 paragraphs 19, 21, 34 Code 14 paragraphs 64, 90-91 |
| Recruiting to the governing body | Code 13 paragraphs 20, 22, 29-31, 33 |
| Member nominated trustee arrangements |
Code 7 paragraph 36 Code 8 paragraphs 14-23, 26, 28-32, 34, 38-40, 43, 45-51, 53-55, 62-65, 67-73, 77-79, 82-85 Code 13 paragraph 28 |
| Role of the chair | Code 7 paragraph 37 Code 13 paragraphs 23-27 |
| Meetings and decision making |
Code 13 paragraphs 36, 40, 65 Code 14 paragraphs 133-134 |
| Remuneration policy |
New content |
| Working knowledge of pensions |
Code 7 paragraphs 14, 16-17, 19, 23, 35-36, 67, 70, 80 Code 13 paragraphs 41-42, 44-47 Code 14 paragraphs 34-36, 40-53 |
| Building and maintaining knowledge |
Code 7 paragraphs 15, 38-39, 47-50, 76-77, 79 Code 13 paragraphs 43, 49 Code 14 paragraphs 38-39, 54-58 |
| Value for members | Code 13 paragraphs 114, 116-117, 121-124 |
| Managing advisers and service providers | Code 13 paragraphs 51-58 |
| Identifying and assessing risks |
Code 9 paragraph 19, 22, 26, 30, 32 Code 13 paragraphs 38-39 Code 14 paragraphs 106-109, 113-115 |
| Managing risk using internal controls |
Code 9 paragraph 14, 16, 18, 21, 28, 31-32, 34, 36-37 Code 13 paragraph 37 Code 14 paragraphs 100-103, 105, 111-112, 117-119 |
| Assurance of governance and internal controls | Code 9 paragraph 35 Code 14 paragraphs 110, 116, 120 |
| Continuity planning | Code 13 paragraphs 68-69 |
| Conflicts of interest | Code 7 paragraph 35 Code 13 paragraphs 61-62 Code 14 paragraphs 61-63, 68, 73-88 |
| Own risk assessment | New content |
| Scheme governance |
New content |
| Investment governance | Code 7 paragraph 34-35 Code 13 paragraphs 86-90, 99-100, 104, 111 |
| Investment decision making | Code 13 paragraphs 107-108 |
| Implementation report | New content |
| Investment monitoring |
Code 13 paragraphs 101-103, 105-106 |
| Stewardship | New content |
| Climate change | New content |
| Statement of investment principles | Code 13 paragraphs 91-98, 101-102, 159-161 |
| Default arrangements and charge restrictions | Code 13 paragraphs 109-110, 112, 125-129 |
| Administration | Code 13 paragraphs 63-67 |
| Financial transactions | Code 13 paragraphs 70-77, 80 |
| Transfers |
Code 13 paragraph 152 |
| Scheme records | Code 13 paragraph 81 Code 14 paragraphs 122-123, 127-132 |
| Data monitoring | Code 13 paragraphs 60, 82-84 Code 14 paragraphs 125-126, 135-146, 208 |
| Maintenance of IT systems | New content |
| Cyber controls |
New content |
| Receiving contributions | Code 5 paragraphs 24-26, 28 Code 6 paragraphs 25-27, 29 Code 13 paragraph 60 Code 14 paragraphs 147-148, 159 |
| Monitoring contributions | Code 5 paragraphs 20, 22-23, 30-35 Code 6 paragraphs 21, 23-24, 31-36 Code 14 paragraphs 150-158, 160-167 |
| Resolving overdue contributions | Code 5 paragraphs 21, 36, 41-42, 46, 48-50 Code 6 paragraphs 22, 37, 42-43, 47, 49-51 Code 13 paragraph 78 Code 14 paragraph 149, 168-186 |
| General principles for member communications |
Code 13 paragraphs 134-139 Code 14 paragraph 207 |
| Statutory financial statements (DC) | Code 5 paragraphs 38-40 Code 6 paragraphs 39-41 |
| Statutory financial statements (DB) | Code 5 paragraphs 38-40 Code 6 paragraphs 39-41 |
| Statutory financial statements (PSPS) | Code 5 paragraphs 38-40 Code 6 paragraphs 39-41 Code 14 paragraphs 187-195 |
| Retirement risk warnings and guidance |
Code 13 paragraphs 140-151 |
| Short service refunds | Code 4 paragraphs 9-10, 12-13, 15-30 |
| Chair's statement | Code 13 paragraphs 50, 130, 155-158 |
| Scams | Code 13 paragraphs 152-153 |
| Publishing information about public service pension schemes | Code 14 paragraphs 92-93, 95-96, 98 |
| Audit requirements |
New content |
| Dispute resolution procedures | Code 11 paragraphs 1-3, 5-9, 11-13 Code 14 paragraphs 213-240 |
| Registrable information and scheme returns | Code 13 paragraphs 162-164 |
| Who must report | Code 1 paragraphs 3-6, 9-17, 19-24, 29 Code 13 paragraphs 165-166 Code 14 paragraphs 241-244, 272-275 |
| Decision to report | Code 1 paragraphs 30-38, 40-42, 44-45, 50 Code 5 paragraph 46 Code 6 paragraph 47 Code 13 paragraphs 165-166 Code 14 paragraphs 173-186, 247-262 |
| How to report | Code 1 paragraphs 18, 46-47, 49, 51-67 Code 5 paragraphs 48-49, 52-53 Code 6 paragraphs 49-50, 53-54 Code 13 paragraphs 78, 165-166 Code 14 paragraphs 245-246, 263-271 |