Pensions Regulator Confirms New Data Reporting Requirements To Scheme Returns In 2018

The Pensions Regulator has confirmed that 2018 DB Scheme Returns will, for the first time, include specific questions about scheme data and record-keeping. The DB Scheme Return Checklist, published alongside A Quick Guide to Measuring Your Data, outlines the new questions. When completing their 2018 return, Trustees will have to confirm when they last measured their scheme's 'common' and 'conditional' data, and the accuracy 'score' of that data.

'Common' data is basic information used to identify scheme members – such as national insurance number, address or date of birth – while 'conditional' data is the information an individual scheme requires to meet its obligations to members. This will vary by scheme but typically will include members' service history and contributions, and any specific benefit entitlements such as guaranteed minimum pensions. The accuracy 'score' of this data is the percentage of scheme members for whom complete data is held.