Commenting on the Interim response to the consultation on TPR’s new code of practice, Laura Andrikopoulos, Head of Governance Consulting, says:

“We welcome an update from TPR on the progress of the consolidated Code of Practice which could have a significant impact on schemes’ governance processes and the amount and attention devoted to good governance. With the underlying regulations having been in force since early 2019 it is important that the UK pension system starts to comply sooner rather than later. It's positive there has been so much engagement with TPR with the consultation, although this has meant the introduction has been delayed beyond the original timetable. Many schemes do however need to start undertaking their gap analyses now to ensure they are well prepared for the Code’s introduction.”