The templates have been prepared by the SPP’s defined contribution committee, building on work by Hogan Lovells and Prudential to help DC scheme trustees and IGCs to produce, respectively, an annual governance statement and annual IGC statement.
The trustee version is intended to reflect the requirements of regulation 23 of The Occupational Pension Schemes (Scheme Administration) Regulations 1996 and the IGC version the requirements in COBS 19.5.5. The templates are intended to provide SPP Members and others with a useful starting point and the body expects that the templates will be adapted and tailored to suit specific circumstances. The SPP plans to review the templates in Summer 2016 and update them to reflect experience.
A spokesperson for the SPP says: “The Committee hopes that the templates will be a helpful aid in getting to grips with these new obligations.”