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TPR Six Key Processes Factsheet.pdf

TPR-6-key-processes-factsheet-January-2021.pdf
Preview of TPR six key processes factsheet
🔗 Source: fpsregs.org
📊 Size: 1.08 MB
👤 Author: Claire Hey
⬇️ Downloads: 88

Summary

The Pensions Regulator (TPR) monitors six key processes for public service pension schemes:
1. Documented procedures for assessing and managing risks
2. Process for resolving contribution payment issues
3. Documented policy to manage board members' conflicts of interest
4. Process to monitor records for accuracy and completeness
5. Access to knowledge, understanding, and skills needed to properly run the scheme
6. Procedures to identify, assess, and report breaches of the law

In 2019, 55% of Firefighters' Pension Scheme (FPS) had all six processes in place, a decrease from 2018. The FPS had the lowest proportion of all processes in place compared to other public service schemes. Areas needing improvement include risk management, contribution issues, and conflict of interest. Despite some improvements, performance still lags behind other public service schemes.

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Description

The Pensions Regulator (TPR) monitors six key processes for public service pension schemes:
1. Documented procedures for assessing and managing risks
2.

Technical Information

  • File Format: PDF
  • File Size: 1.08 MB
  • Pages: 20
  • Language: EN
  • Author: Claire Hey
  • Total Downloads: 88
  • Last Updated: 1 week ago

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