From The Pensions Regulator:
The Pensions Regulator has today published
The guidance helps those responsible for record-keeping and administration to put in place good practices for measuring the presence of member data. It also gives advice on assessing the risks of incomplete or inaccurate data.
Following the consultation the regulator has made some changes to the guidance.
The final guidance now uses ‘common’ and ‘conditional’ data, as these more closely reflect the differences in scheme types.
Common data is applicable to all schemes, including details such as name, address, date of birth, NI number, dates of start of pensionable service and expected retirement. Conditional data is required to effectively administer a pension scheme. Specific items will vary from scheme to scheme dependent upon scheme design and structure, but could include salary and details of investment…