Punter Southall: The Pensions Regulator consults on proposals for record-keeping standards

Punter Southall is pleased to announce the release of its latest briefing note 'The Pensions Regulator consults on proposals for record-keeping standards'.

In Brief:

• The Pensions Regulator has issued a consultation document which looks at the response to its guidance on record-keeping of January 2009 and includes proposals for the regulation of standards for member data.
• The regulator feels that not enough schemes have acted on the original record-keeping guidance and hence a tougher regulatory approach is needed to rectify this. Evidence of poor record-keeping could lead the regulator to take enforcement action unless specific action plans are in place to rectify the problems.
   
  Next Steps:
• Trustees should carry out an exercise to measure the presence of common and conditional data for their pension scheme if they have not already done so.
• Trustees should also consider a data cleansing exercise to improve the quality of their data.

Ends

For further information please contact:

Penrose Financial

Clare Murphy-McGreevey
0207 786 4834

Back to news