TPR single code of practice: PLSA response

On the 17th March 2021, the Pensions Regulator (TPR) opened a consultation process to bring together 10 of the 15 exisitng codes of practice into one single code. 

The PLSA welcome the intent of the Single Code and the consolidation of existing codes, however, clarity on what aspects of the Code are new and open for challenge and where there have been changes from existing guidance would be helpful. Furthermore, it is not always clear when there is a requirement placed on certain types of schemes and where “good practice, but not a requirement” is. This is particularly the case for the LGPS where clearer guidance on where the Code applies to them would be beneficial.