DC Chairs Statement Drafting Template

DC Chair's Statement Drafting Template

Our DC Chair's Statement drafting template is designed to help trustees of standard occupational DC schemes meet their legal requirement to produce an annual governance statement.  We worked with a number of legal firms and advisors to make sure the template is clear about how legislative requirements should be applied in practice, and it has been reviewed and supported by TPR.

It covers the areas on which trustees are required to report, including: 

  • Investment strategy and governance
  • Processing of core financial transactions
  • Disclosure of member-borne transaction costs and charges
  • Assessment of value for members
  • How trustees have met trustee knowledge and understanding requirements.

The template is based on the requirements of regulation 23 of The Occupational Pension Schemes (Scheme Administration) Regulations 1996 as at 1 February 2020 and is designed to be used in conjunction with TPR’s detailed guidance and quick guide.

Trustees should note that individual schemes will need to consider their own circumstances when meeting the statutory requirements, and should continue to consult their own advisers as they produce their statements.