Trustee Good Practice Guide

Guidelines for trustees managing pension schemes through the Pension Protection Fund assessment period

A message from the Pension Protection Fund (PPF) Chief Executive, Partha Dasgupta

Welcome to our guide for all trustees whose pension schemes are going through an assessment period.

This guide, along with the ‘DB Scheme: Insolvent Employer’ module within the Pensions Regulator’s Trustee Toolkit and our website guidance, is designed to help you take your scheme through the assessment period, effectively and efficiently.

One of our key values is teamwork and partnership. We are committed to supporting trustees and their advisors through what is a complex and demanding time. By working in partnership together, along with the overall Trustee Guidance, we hope to achieve our objective:

  • to promote increased confidence and set reasonable expectations for members
  • to pay the right people the right compensation at the right time, and
  • see schemes complete the assessment period within 24 months.

These objectives can only benefit your scheme members.

As key parts of the assessment period are set out in primary legislation, you should make sure that you consider the regulatory requirements set out in the Pensions Act 2004 when using this guide.

The processes and procedures in the legislation set out what is expected from you and this guide should help you understand more fully your role and responsibilities.

Importantly, following these requirements means you can avoid the risk of being reported to the Pensions Regulator for underperformance.