TPR publishes general code of practice

The Pensions Regulator’s new general code of practice aims to improve pension scheme governance - consolidating ten of the regulator's existing codes and updating them in the process, but also introducing some new requirements. The new obligations include a requirement to establish an effective system of governance (ESOG) and, for those schemes with 100 or more members, to undertake an own risk assessment (ORA), an examination of how well the ESOG is working and how any potential risks are being mitigated.