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ARTICLE · 22 DECEMBER 2015

Public Service Pension Schemes: More Work Needed On Governance

Nabarro LLP
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The Pensions Regulator (the Regulator) has begun to exercise its supervisory powers over the public service pension schemes.

United KingdomEmployment and HR
John Hanratty
John Hanratty
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The Pensions Regulator (the Regulator) has begun to exercise its supervisory powers over the public service pension schemes. The Public Service Pensions Act 2013 (PSPA) gave the Regulator a supervisory role in relation to the public service pension schemes and the Regulator has just published the results of its research into their governance and administration.

The Regulator's findings are that, whilst most of the respondents to its research have made progress in the areas of governance and administration, only just over a quarter of schemes are addressing key issues to ensure that they comply with the requirements of the PSPA.

On the positive side, some 90 per cent of schemes have made progress in establishing a pensions board.

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