Compliance and enforcement policy for public service pension schemes
08 June 2015
The Pensions Regulator has published details of how they will support public service pension schemes to meet the required standards of governance and administration, and what they might do in cases of non-compliance.
The Regulator recognise that the reforms are significant and those involved with public service schemes face complex and challenging conditions, so they want to work with you to help you meet the new standards set out in law.
The Compliance and enforcement policy for public service pension schemes policy sets out the Regulator’s approach to compliance and enforcement in relation to public service pension schemes, which are those principally covering civil servants, the judiciary, local government workers, teachers, health service workers, fire and rescue workers and members of police and armed forces. It describes the Regulator’s expectations for compliance with relevant legal requirements and how they will proceed in cases of noncompliance, including when they may use their enforcement powers.
This policy relates to public service pension schemes established under the Public Service Pensions Act 2013 and Public Service Pensions Act (Northern Ireland) 2014, new public body pension schemes and other statutory pension schemes which are connected to those schemes. It is not relevant to schemes in the wider public sector which are not public service pension schemes within the meaning of section 318 of the Pensions Act 2004 or Article 2 of the Pensions (Northern Ireland) Order 2005.
This policy is relevant to anyone who has legal requirements or responsibilities relating to the management or administration of a public service pension scheme, or where those responsibilities have been delegated or outsourced – for example scheme managers, pension boards and administrators. It is also relevant to anyone else who could be subject to any of our statutory powers of investigation and enforcement, such as employers and professional advisers.
For further help and practical guidance, visit the public service section of the Regulator’s website.