DB/hybrid scheme return: TPR asks schemes to download past returns
The Pensions Regulator (TPR) has published new information on next year’s scheme return for DB and hybrid schemes, including an example scheme return form (an updated version of the checklist for schemes has not yet been published). TPR is encouraging schemes to download copies of previous scheme returns, as these may not be available after 31 December 2020 due to TPR system updates.
TPR suggests that schemes should allow more time to prepare for completing the return. Depending on system updates, DB-only schemes may be asked to provide a website link to the published statement of investment principles, and their assessment of the employer covenant (and where it would sit within TPR’s grading system).