BN56 - Record Keeping - Proposals for Enforcement

Briefing Note

In December 2008, the Pension Regulator published good practice guidance on measuring the completeness of pension scheme member data. The guidance suggested some tests that could be applied to “common” and “conditional” data items and these were summarised in BBS briefing note 43, which is available from the BBS website.

Research carried out by the Regulator in 2009 indicates that implementation of the good practice guidance has been limited. The Regulator has therefore confirmed that it will be taking a stronger approach to managing standards of member data going forward and last month issued a consultation document on its proposed methods of regulation.

The consultation can be found on the Regulator’s website (www.thepensionsregulator.gov.uk) and this BBS briefing note summarises the proposals.

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