The Public Service Pensions Act 2013 provided for extended regulatory oversight by The Pensions Regulator. This means that the administrator and the employers are accountable for the management of the Scheme.  Various requirements must be satisfied and amongst these are the disclosure of information and record keeping.

The Pensions Regulator has issued Code of Practice no. 14, as a requirement of The Pensions Act 2004. The Code of Practice is for the “Governance and administration of public service pension schemes” and it came into force from 1 April 2015.

It reflects the various legislative requirements which public service pension schemes must satisfy and amongst these are disclosure of information and record keeping requirements.

A particular area which Teachers’ Pensions are working with employers on is trying to improve the capture of home addresses and an enhancement of this is the capture of email addresses.  The mandatory capture of home addresses will ensure compliance with the record keeping regulations and the capture of email addresses will enhance direct communications with members.

The Pensions Regulator has set out the areas of focus on its website (This link opens in a new window).