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British Products for British Farming and Industry

Pensions

The trustees of occupational pension schemes providing defined contribution (DC) benefits are required to prepare an annual governance statement signed by their Chair.

The Pensions Regulator (TPR) expects the Chair’s statement to “…provide a meaningful narrative of how, and the extent to which, the governance requirements have been complied with.”

The Chair’s statement forms part of the scheme’s annual report and accounts. New regulations that came into force on 6 April 2018 require additional information in relation to investment charges and core transaction costs to be made available online to members via the Chair’s statement.