Multi-employer schemes with 500 or more employers need no longer be concerned about an individual acting as scheme auditor where that same individual would be prohibited, by virtue of the independence requirement, [footnote to s.1214 Companies Act 2006 ] from acting as a statutory auditor of one the scheme’s participating employers.

The Registered Pension Schemes (Audited Accounts) (Specified Persons) (Amendment) Regulations 2015 (the ‘Regulations‘) came into force on 1 September 2015 and have retrospective effect from 6 April 2014. The Regulations disapply the independence requirement for schemes which on the first day of the scheme year have 500 or more participating employers.