Mixed reactions to new U.K. pensions code of practice
By 
Ruth Prickett2024-01-22T13:00:00
Lawyers and accountants in the United Kingdom have welcomed the publication of The Pensions Regulator’s (TPR) new pensions code of practice but warned it might not improve the management of those that are not already well run.
The new code was laid before U.K. Parliament on Jan. 10 and is likely to come into force at the end of March. It sets out what the regulator expects from a well-operated pension scheme and guidance for trustees and managers over what constitutes good scheme governance.
Pensions managers and trustees should be aware the new code will replace existing TPR guidance and should familiarize themselves with it to ensure they continue to comply with their legal obligations.
Related articles
-
PremiumU.K. pension scheme reforms promise funds consolidation for trustees
The U.K. government has signaled new rules for pension trustees and funds consolidation to boost investment, but questions remain on employee financial literacy.
-
PremiumU.K. push for more listings to lower bar on governance?
Moves by the U.K.’s financial regulatory body to encourage companies to list in London might fail to deliver or send mixed messages about the value placed on corporate governance, according to experts.
-
PremiumDisclosure rules not enough to curb U.K. salary gaps
The issue of “fat cat” pay awards was reignited in the United Kingdom after a think tank found a typical FTSE 100 CEO earned the average annual salary for a full-time worker after just four days into the new year.
More from Regulatory Policy
-
News BriefEuropean Commission unveils a simpler, more competitive EU Single Market, but businesses remain skeptical
The EU’s new strategy aims to boost SME growth and cut market barriers, but businesses doubt reforms will happen, and consumer groups fear weaker data protections.
-
News BriefFHFA chief orders Fannie and Freddie to consider crypto assets in mortgage assessments
In another sign of President Donald Trump’s focus on cryptocurrency, the head of the U.S. Federal Housing Finance Agency (FHFA) ordered Fannie Mae and Freddie Mac to create proposals to consider crypto assets for a single-family home mortgage.
-
ArticleEU, UK agree to reset rules on agrifoods, mergers and carbon trading as part of post-Brexit reset
Four years after Brexit, the U.K. and EU announced a “reset” that will ease barriers to importing and exporting food, drink, and agricultural produce. It may also harmonize rules around carbon emissions trading systems, simplifying compliance for multinational organizations that are large emitters, and enable more young people to gain ...