The Pensions Regulator has published a template for DC schemes’ annual governance statements and an assessment model to help trustees complete the statement accurately.

TPR’s DC code of practice and regulatory guidance was launched in November 2013, setting out the quality features DC schemes should possess.

The regulator expects trustees to publish an annual governance statement demonstrating how their scheme exhibits these quality features, and explains why the scheme has taken a different approach where any of the quality features are not met.

TPR executive director for DC, governance and administration Andrew Warwick-Thompson said the governance statement and assessment template aim to provide DC trustees with “the tools they need to demonstrate to employers and retirement savers that they are running a quality scheme, capable of delivering good outcomes for members”.

The templates will help trustees keep on top of their systems and controls, monitor risks, and prioritise actions for the year ahead, he added.

The governance statement and assessment template can be downloaded here.

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