Britain's Occupational Pensions Regulatory Authority has updated its guide for pension scheme trustees and will send copies to the trustees of every occupational pension scheme in the UK in June.
The new guide, which is available now from the OPRA website, is aimed at existing trustees and those who are thinking about becoming trustees. The guide covers a variety of topics including the appointment of consultants, payment of contributions, the minimum funding requirement, investment and custodianship, as well as reporting to OPRA.
The updated guide includes comments and suggestions OPRA has received since the first edition, published in 1997. OPRA claim that the updated guide will also help employers offering occupational pensions to understand the trustees role.
By Geoffrey Ho
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