Explanatory Memorandum to The Pensions Regulator Code of Practice (29 April 2026)
Explanatory Memorandum to The Pensions Regulator Code of Practice: Authorisation and Supervision of Collective Defined Contribution Schemes 2026.
The Pensions Regulator’s draft Code of Practice: “Authorisation and supervision of collective defined contribution schemes” sets out the process by which collective money purchase schemes (a type of trust-based occupational pension scheme) must follow to apply to The Pensions Regulator for authorisation. It also sets out the matters The Pensions Regulator expects to take into account in fulfilling its functions regarding the authorisation and ongoing supervision of collective money purchase schemes.
The draft Code of Practice replaces the current Code of Practice: “Authorisation and supervision of collective defined contribution schemes”.