Preparing for the regulator's single code

Claire Rankin explores the code's implications for pension scheme trustees

clock • 4 min read
Claire Rankin is pensions partner at Osborne Clarke
Image:

Claire Rankin is pensions partner at Osborne Clarke

New regulations amending section 249A of the Pensions Act 2004 came into force in January 2019. Before this, trustees were required to have sufficient internal controls to ensure that the scheme was run in accordance with its rules and the law. The regulator's Code 09: Internal Controls explained its expectations.

The change introduced a new requirement to establish and operate an effective system of governance, including internal controls, with that system of governance being proportionate to the size, natu...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Law and Regulation

ORA lessons from the first wave

ORA lessons from the first wave

Manjinder Basi and Lauren Shipman say initial concerns have proved largely misplaced

Manjinder Basi and Lauren Shipman
clock 30 July 2026 • 3 min read
The full list of pensions ministers since 1998

The full list of pensions ministers since 1998

The full list of the ministers who have been responsible for pensions

PP Staff
clock 23 July 2026 • 1 min read
Transfer changes 'a start, not the finish line', industry says

Transfer changes 'a start, not the finish line', industry says

Clear and practical guidance ‘essential’ to apply the new framework consistently and with confidence

Jonathan Stapleton
clock 22 July 2026 • 4 min read
Trustpilot