Opra Note 1 – new traffic light system takes effect


In October 2002, Opra announced plans to review its guidance for statutory whistleblowers, i.e. the scheme auditors and actuaries appointed by trustees. Earlier this year, Opra consulted on a revised Opra Note 1 (reporting to Opra) setting out a “traffic light” system for reporting breaches to it under section 48(1) of the Pensions Act 1995. On 22 October 2003, Opra published the finalised Opra Note 1 which took effect immediately.

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