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The Pensions Regulator

The pensions regulator

The Pensions Regulator was established under the Pensions Act 2004 as a non-departmental public body, sponsored by the Secretary of State for Work and Pensions, to regulate work-based Pensions. The Public Service Pensions Act 2013 introduced and expanded role for the Regulator in overseeing the major work-based Pension Schemes for those working in the Public Services throughout the UK. Therefore, since 1 April 2015, the LGPS as a Public Service Pension Scheme is now under greater scrutiny by the Pensions Regulator whose role now includes overseeing the Governance and Administration requirements of the Scheme.

Below you will find a link to documents issued by the Pensions Regulator in particular the Code of Practice No. 14 which members of the Pension Board will want to refer to ensure that the administering authority is compliant with the recommendations made. In addition Pension Board members will find a link to the Pension Regulator's Public Service "Trustee Knowledge and Understanding" (TKU) Toolkit which members are required to complete within 6 months of becoming a member of the Board.