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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