The Pensions Regulator (TPR) has published an updated quick guide to the chair’s statement and has confirmed that some fines that were previously imposed will be revoked to ensure a consistent approach.
Every year the trustees of occupational trust-based schemes providing money-purchase benefits have to confirm in their chair's statement how the scheme meets certain governance standards. Though the chair is responsible for signing the statement, the trustee board as a whole needs to ensure that the relevant standards are met.
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