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Producing the Chair’s statement: what can go wrong

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Cork Andy
Andy Cork

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London

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Bowden Neil
Neil Bowden

Partner

London

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Higgins Jane
Jane Higgins

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Kerslake Jessica
Jessica Kerslake

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Shaw Jason
Jason Shaw

Counsel

London

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26 September 2019

Many schemes providing DC benefits must prepare an annual governance statement (the Chair’s statement).
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Over time, new content requirements have been introduced, and the Pensions Regulator (TPR) continues to add to its guidance and to impose fines for non-compliance. What areas should trustees focus on to reduce the risk of fines, and what should they do if a statement is found wanting? Our guide outlines some common pitfalls when drafting the statement, and factors to consider if a penalty notice is received. 

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