“Whistleblowing” – draft code of practice published
On 8 December 2004, the first code of practice under the Pensions Act 2004 was published for consultation by the Department for Work and Pensions: “Whistleblowing” – Reporting breaches of the law. The draft code “covers the duty to report significant breaches of the law relating to occupational and personal pension schemes (including stakeholder schemes)” to the Pensions Regulator (TPR). Crucially, from April 2005, the responsibility for reporting breaches will apply to a significantly expanded group, including trustees, scheme managers, administrators, professional advisers and employers. The draft code will be issued by TPR in accordance with its new powers under the Pensions Act 2004.