If the defined contribution scheme you run fails to meet legal requirements, we will consider various options (such as educate, enable or enforce) and take action where necessary.
- Use our guidance and e-learning resources to help you comply with pensions legislation.
- We may take appropriate action (including enforcement if necessary) where pensions legislation is not being complied with.
- Report significant breaches of the law to us.
How to comply with pensions legislation
You must comply with pensions legislation affecting you and your defined contribution (DC) scheme.
You can learn about your trustee duties in our Trustee toolkit. You can also find in-depth information about complying with legal requirements and incorporating good practice in the DC code and guidance on managing DC benefits.
Key areas to focus on
You should pay particular attention to the following areas:
- governance standards
- charge cap
- risk management and internal controls
- investment governance and decision-making
- administration practices, eg record-keeping
- preventing fraud, eg theft or pension scams
How we'll enforce
If you or another person responsible for administering the scheme fail to comply with their legal requirements, we may select from one or more enforcement options. These include:
- statutory compliance notices
- improvement notices
- skilled person reports
- trustee suspensions
- prohibitions and appointments
- monetary penalties
For more information, go to our DC compliance and enforcement policy (PDF, 116kb, 20 pages).
Reporting breaches of the law
Appeal an enforcement notice
If you have been issued a notice you can apply to us for a review. Your application, accompanied by any supporting documentation, must be made within 28 days starting on the date the notice was issued. Upon receipt of your application, we will inform you whether we will review the notice and, if we will, when a decision can be expected.
For more information go to appeal a DC enforcement notice.