Does your pension scheme comply with the new Defined Contribution standards?

Tuesday 6 October, 2015

The Government introduced new pension requirements for Defined Contribution schemes in April 2015 which state that a scheme should:

  • Have an appointed Chairman who will sign the annual statement
  • Meet new standards of governance which should be explained in the Chariman’s annual statement
  • Comply with new charging controls for schemes used as workplace pension qualifying schemes.

Steve Cook said: ‘It’s really important that pension trustees speak to their Financial Adviser or visit the Pension Regulator website to check they are complying with the new pension regulations.  The Regulator has published a number of products to help pension scheme trustees understand their requirements, and a list of frequently asked questions about the changes. ’

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