Proposed regulations would amend the required content of the Statement of Investment Principles (SIP), and the steps Trustees take when revising it.
The closing date for the consultation is 16 July 2018.
The proposed regulations are intended to reassure Trustees that they can and should:
The proposals would require Trustees, by 1 October 2019, to update or prepare their SIP to set out:
In relation to relevant schemes (broadly DC Schemes):
From 1 October 2019, the government are proposing that when Trustees next prepare or update their SIP, they also prepare a separate ‘statement on member’s views’ setting out how they will take account of the views which, in their opinion, members hold, about matters covered in the SIP.
From 1 October 2020, the proposals would require that Trustees of relevant schemes:
To discuss the implication of this consultation, including how the proposed regulatory changes will affect you, please contact your usual Crowe Pension Funds advisor or Phil Spary, Director in our National Pension Funds team.