Pension schemes providing DC benefits (other than where the only
DC benefits are AVCs) must have a chair of trustees (the Chair) in
place by 5 July 2015. The Chair can be an individual trustee, a
director of a corporate trustee or a professional trustee body
which is a trustee of the scheme (e.g. a professional independent
trustee). The Pensions Regulator is now asking for confirmation of
the name of the Chair on the scheme return.
The key duty of the Chair is to sign an annual statement,
covering a number of scheme governance activities. The statement
will be available to members in the same way as the annual report
and must be published within seven months from the end of the
scheme year to which it relates. For scheme years ending before6
July 2015,theChairwill not have to produce a statement until seven
months from the end of the following scheme year (although will
need to include relevant information from 6 April 2015). This means
that the first statements will
