The Pensions Regulator – Maintaining DC Contributions

12 June 2013 In September 2012, the Pensions Regulator held a three month consultation on revising their codes of practice on reporting late payments of DC contributions. The consultation results have been analysed and amended draft codes of practice have now been laid before Parliament – with an expectation that these codes will go live in the Autumn. Why is this important? It is clear that the correct identification and payment of contributions is vital to the beneficiaries of a DC scheme. Timeliness is also key: if payments are delayed then there will be a need to reinstate beneficiaries to…

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Making Pension Charges A Little Clearer

06 December 2012 In November 2012, the National Association of Pension Funds published a document: “Pension Charges Made Clear: Joint Industry Code of Conduct” in association with a number of industry trade bodies: the Association of British Insurers, the Investment Management Association and the Society of Pension Consultants. Author: Martin Veasey © www.veaseyassociates.co.uk 2011 – 2018

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The Pensions Regulator : Record-keeping data integrity deadline looms

19 September 2012 On 6 September, the Pensions Regulator published a press release urging trustees and scheme administrators to take action to get beneficiary records in order in time for the regulator’s end-2012 deadline. The regulator originally set targets in 2010 for compliance in accuracy of “common” data items: for instance name, address, DOB and NI numbers. Their aim was for 95% of data to be in place and accurate for data records prior to June 2010 and full 100% accuracy for data subsequent to this. It is self evident that data integrity is vital for contact with beneficiaries and…

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