NEWS   |    January 11, 2024

Anna Rogers comments on the new General Code of Practice

The Pensions Regulator yesterday published its long-awaited General Code of Practice, and has confirmed that it is expected to come into force on 27 March.

Effectively a handbook for trustees on how to run a pension scheme, the new General Code means schemes will need to complete compliance exercises to ensure that they are ‘code-ready’ ahead of its implementation.

Senior partner Anna Rogers commented:

“It is good news that this has finally been unveiled. It’s helpful to have all the material in a single code but most schemes will have work to do now that they see the detailed wording. Their existing systems of governance will have to be written up in a compliant way and some new steps may be needed. Resources are pretty stretched across the pensions industry and it’s not a great time for increasing the compliance burden.”

“We’ll be approaching this with a positive mindset, as an opportunity to reflect and improve. Even the best run schemes can benefit from self-challenge.”

Read Anna’s comments in Professional Pensions, here.

To find out how Arc Pensions Law can help your scheme prepare for the General Code of Practice, click here.

The views in this article are intended for general information purposes only and should not be used as a substitute for professional advice. Arc Pensions Law and the author(s) are not responsible for any direct or indirect result arising from any reliance placed on content, including any loss, and exclude liability to the full extent. Always seek appropriate legal advice from a suitably qualified lawyer before taking, or avoiding taking, any action. If you have any questions on the points raised in the above, please do not hesitate to get in touch.

Related News