The Pensions Regulator gets tough on record keeping (11/02/2010)

On the 2nd February 2010 The Pensions Regulator (tPR) issued a consultation report on record keeping, building on guidance published last year to set out standards for member records.

Andrew H Cox, senior consultant commented: "The industry had the opportunity to put its house in order regarding data and it failed to do so. The Regulator is now forcing trustees and others to take action quickly."

"The 2012 regulations will include specific legal provisions which will allow tPR to strengthen his approach to data and take enforcement action where poor practices exist. Data is definitely moving up the agenda for all parties."

For further information and to see how LCP can help schemes comply with the Pensions Regulators Guidelines visit our Employee Benefits Consulting area.