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Updated guidance on chair’s statements

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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