From The Pensions Regulator:
Aimed at focusing greater attention on risks facing pension scheme members, the Pensions Regulator has today published revised internal controls guidance for consultation, alongside new ‘bite-sized’ e-learning modules which provide an overview of the topic.
This forms a vital part of the current
The new guidance aims to ensure that trustees, especially of smaller schemes, have the tools to perform their critical role in protecting pensions, particularly in the current economic climate.
The implementation of robust internal controls is a legal requirement for trustees and the failure to put processes in place can result in scheme members being exposed to the risks associated with poor record-keeping, inappropriate investment allocation and conflicts of interest in trustee boards.
The revised guidance, which provides assistance with key governance ar…