Regulator Publishes New Code Of Practice On Policing AE Contributions

Last September, the Regulator published a set of draft regulations which put the onus on trustees and scheme managers to monitor closely the payments by employers to AE schemes. The new code of practice on reporting late contributions to schemes, which was published in early June, confirms that the onus remains on trustees and scheme managers to controversial elements of the draft proposals, including the requirement to report "nil-returns" to demonstrate compliance, have been dropped.

While this should be welcomed by trustees and managers, the new monitoring and reporting duty could still amount to a significant administrative burden. Charles Counsell, the executive director of auto-enrolment at the Regulator, points out that they, along with the employer, are "closest to the transactions", and an online reporting system is to be launched in 2014 to help simplify the process. However, trustees and providers will be expected to attempt to resolve any disputes with