TPRs New Single Code of Practice – A Big ‘Step Change’ for Trustees?

Join this virtual roundtable to find out more

The AMNT is delighted to share with you the details of our upcoming roundtable discussion, hosted by Baker McKenzie.


Hannah Moxon, Associate in the Baker McKenzie's London pensions team, will set the scene as we explore the benefits and challenges brought about by The Pension Regulator’s consolidation of industry codes into the Single Code of Practice. We will discuss the potential impacts of the code and share practical takeaways, including how the code could affect the way Trustees operate, where Trustees should consider prioritising and how to distil the grey areas that are open to interpretation to ensure compliance and best practice for your scheme(s).

If you have any specific questions you'd like to ask the speakers, then please submit them by clicking here. There will of course be the opportunity to ask questions live as well.

We intend to make this session as interactive as possible and are keen for attendees to engage throughout.

There will be limited spaces available at this session, so please RSVP using the button opposite to secure your place and not miss out!



Tuesday 13th July 2021 10:30 till 11:30


  1. Overview - what's new
  2. Timing

Ø  Consultation closed in May. Code could be in place by end of year, but needs parliamentary approval. Timing will ultimately depend on whether they intend to make any substantive changes following industry feedback.

  1. Regulatory powers

Ø  Regulatory powers - a quick reminder on the status of a code of practice – the Regulator sees Codes of practice as setting out its "expectations" for the conduct and practice of trustees and others involved in a pension scheme.  They are not statements of law.

  1. Points for discussion with floor

Ø  Aim is to get everything into the same place – will it help trustees?

Ø  When should trustees start? The draft code is in a bit of a state of flux at the moment and more clarity is likely to be provided on the important points by the Regulator, so it’s arguably a bit early to get started yet.  However, it might be prudent to start thinking about:

(a)            the general shape and structure of the ORA.

(b)            gathering the trustee's current policies so that these can be checked against the list of required policies under the Code to see where the gaps are likely to be.

(c)            current trustee TKU capabilities and skill sets

Ø  Potential Inconsistencies in meantime whilst the Regulator updates its 200 guidance notes in phases (huge job - 54 in Phase 1).

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