Pensions Risk Management And The TPR's General Code – Learning From Other Sectors

The Pensions Regulator's General Code introduces new requirements for pension scheme risk management. Other sectors have been on similar journeys and pension schemes can learn from their experience.

Precedents in other sectors

The pensions risk management requirements of The Pensions Regulator's General Code should not have come as a surprise. Listed and private companies, the government sector, charities and higher education are all covered by established codes of corporate governance that require effective risk management. Many of these codes have been in place for years, with organisations having had time to adapt to them, try out approaches and then optimise them. The Pensions Regulator (TPR) has simply acted to bring pension schemes into line with risk management practices already established in these sectors.