Since the introduction of auto-enrolment, the UK workplace market has gone from strength to strength, with more people than ever saving into their workplace pension scheme.

The pension regulators six principles for good design and governance for workplace Defined Contribution (DC) schemes. tPR has identified that the lack of scheme governance is the biggest threat to UK pension provision and member outcomes. Do you need help with ensuring your existing scheme adhere to the tPR requirements?

• Principle 1: Schemes are designed to be durable, fair and deliver good outcomes for members.
• Principle 2: A comprehensive scheme governance framework is established at set-up, with clear accountabilities and responsibilities agreed and made transparent
• Principle 3: Those who are accountable for scheme decisions and activity understand their duties and are fit and proper to carry them out.
• Principle 4: Ongoing governance and monitoring: schemes benefit from effective governance and monitoring through their full lifecycle.
• Principle 5: Schemes are well administered with timely, accurate and comprehensive processes and records.
• Principle 6: Communications to members: communications to members are designed and delivered to ensure members are able to make informed decisions about their retirement choices

1.DWP press release, Ten years of Automatic Enrolment achieves over £114bn pension savings, November 2022