The Pensions Regulator

Compliance and enforcement bulletin

Occupational pension schemes providing money purchase benefits1 are now required to prepare an annual statement, signed by the chair of trustees, within seven months of the end of each scheme year. This legislation was introduced in 2015, and we’ve seen high compliance with the requirements so far. Of the approximately 3,000 schemes offering money purchase benefits that were required to declare compliance as part of the 2016 scheme return, 85 failed to prepare a chair’s statement and were subsequently fined.

The full article is available here