On 2 February 2010, the Pensions Regulator (TPR) published its consultation paper “Record-keeping: measuring member data. A consultation on proposals for regulation”.
The consultation requirements build on TPR guidance published in December 2008 which provided a framework for the clarification and assessment of member records. TPR proposes to set targets for the accuracy of the common data which schemes must hold, to review schemes’ performance and to require improvement where standards are not met.
As part of the 2012 pension reforms, obligations on record-keeping form part of compliance regulations which have been laid before Parliament.
In addition, on 18 February 2010, TPR published a brief record-keeping e-learning module to complement the updated guidance. This is available in a “bite-sized” two minute version, or a more detailed 12 minute course. TPR will also be hosting a number of governance workshops for trustees and the pensions industry which will focus in part on record-keeping.
The consultation period runs until 27 April 2010.
View the consultation paper. (pdf 544.44KB)
Access the e-learning module.