This code applies to trustee boards of all occupational trust-based pension schemes with 2 or more members (whether active, deferred or pensioner) which offer money purchase benefits.
It sets out the standards of conduct and practice that we expect trustee boards to meet in complying with their duties in legislation. It replaces the version published in 2013.
The draft code of practice was laid before Parliament on 9 May 2016 as required by Section 91(5) of the Pensions Act 2004. Section 91 includes other provisions related to the issue and publication of the code.