Implementing TPR’s New Code of Practice

28 March 2023 | Webinar

Implementing TPR’s New Code of Practice

Codes and conversation with Nick Gannon

In case you missed it: TPR's Nick Gannon talks to PLSA members about implementing the general code of practice...

The Pensions Regulator (TPR) is due to finalise the General Code of Practice for pensions schemes in the coming months, which will replace 10 of the existing codes.

TPR Policy Lead, Nick Gannon joined Tiffany Tsang, Head of DB, LGPS and Investment at the PLSA on Monday 28 March, to discuss the finer details of the code, the implementation and provide advice to trustees.

During the webinar, Nick confirmed the code is due to be released between June and July but advised schemes do not need to panic. Although, legislatively schemes should be compliant from day one, they appreciate there is a lot of work to be done. In the initial few months of implementation, he has suggested that schemes need to understand their gaps and prioritise their biggest risks.

“This is a governance journey for schemes to get to the best place,” Gannon said.

Key takeaways from the webinar:

  • The new code is a simplification of multiple codes, which have been updated to meet current standards
  • In a 2022 survey, TPR found 38% of DB trustees had not read any code other than CoP 3
  • Private sector schemes with 100 or more members must complete an Own Risk Assessment (ORA) – this will be an internal document
  • Governance is a new core feature – the code includes a requirement for most occupational schemes to have and operate an effective system of governance
  • The new code is designed to be a web-based for ease of use and simple navigation – there will also be a downloadable pdf.

Nick Gannon

Policy Lead, The Pensions Regulator

Tiffany Tsang

Head of DB, LGPS and Investment, PLSA

If you have any questions about this event please contact Nikolina Hudi:
0207 601 1710  |   [email protected]

Key info


Tuesday 28 March 2023


Zoom webinar


Free for all PLSA members

Who is it for?

Single employer DC schemes, DB schemes and the LGPS 


This event may qualify for CPD hours under your CPD scheme