Draft code of practice for trustees

On Thursday 22 July 2021, the Pensions Authority published a draft code of practice for trustees of occupational pension schemes and trust RACs.

The draft code of practice sets out what the Authority expects from regulated entities to meet their obligations under the European Union (Occupational Pension Schemes) Regulations 2021 (the Regulations). A final code of practice on what the Authority expects from regulated entities to meet their obligations under the Pensions Act, 1990, as amended, will be published in the week commencing 15 November 2021.

The Authority welcomes views on the draft code of practice. The closing date for the receipt of submissions is 5pm Thursday 16 September 2021.

The draft code of practice, consultation cover note and a submission form are available under ‘Related File(s)’.

Further information

In addition to the draft code, the Authority will issue the following further information:

  • Information for new one-member arrangements on the Regulations will be issued the week of 30 August 2021.
  • Information on the annual compliance statement provided for under the Regulations will be issued the week of 30 August 2021.
  • The final code of practice will be published the week of 15 November 2021.
  • Guidance for the public and employers about the minimum standards they should expect from master trust vehicles will be published the week of 13 December 2021.