Trustee knowledge and understanding – draft code of practice published


Amid the Pensions Act 2004 maelstrom, on 17 March 2005 the Pensions Regulator (TPR) pbulished a draft code of practice for consultation on trustee knowledge and understanding (TKU). The consultation period runs until 10 June 2005. The TKU requirements under the Pensions Act are set to come into force on 6 April 2006. In summary, all occupational pension scheme trustees must have sufficient TKU of pensions and trusts law to run their schemes properly. Trustees must also be conversant with scheme documents.

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