The Pensions Regulator (TPR) is a public body established by the Pensions Act 2004 to make sure that pension schemes within the UK are run properly and can provide secure benefits for their members upon retirement. TPR has powers to "educate, enable, and enforce", and is responsible for promoting robust scheme governance. The Regulator is sponsored by the Department for Work and Pensions (DWP).
TPR's oversight of public service pension schemes, including the Firefighters' Pension Schemes, was introduced by schedule 4 of the Public Service Pensions Act 2013.
While there are a wide range of resources available on the TPR website, we have highlighted some of the most relevant to Local Pension Boards in the table below.
Anyone involved in the governance and administration of FPS can sign up to use the Public Service toolkit to learn about managing public service pension schemes and to increase their knowledge and understanding.
|Governance and administration risks in public service pension schemes: an engagement report (HTML)||Findings from TPR's engagement with 10 LGPS funds, selected from across the UK, to understand scheme managers’ approaches to a number of key risks.||September 2019|
|Self-assessment tool (xls, 420kb)
Non-interactive version (PDF, 16 pages, 149kb)
|Tool to assess how you are running your public service pension scheme so that you can identify any areas in need of improvement. The interactive version provides an indicative risk rating for your scheme in certain key areas, as well as guidance and links to further information,, as well as a template for you to create a plan to address any issues you identify and to help you achieve best practice.||October 2016|
|Compliance and enforcement policy (PDF, 23 pages, 136kb)||TPR's policy on compliance and enforcement for public service pension schemes||June 2015|
|Code of practice 14 (PDF, 67 pages, 410kb)||Code of practice no. 14. Governance and administration of public service pension schemes.||April 2015|
|Learning needs analysis (Word, 8 pages, 123kb)||Use this tool to assess your learning needs, then complete, record, and reflect on the learning.||January 2015|
|A quick guide to personal development (PDF, 4 pages, 70.6kb)||A quick guide to personal development for anyone who is a member of a public service pension scheme board.||January 2015|
|The essential guide to the public service code (PDF, 8 pages, 46kb)||A guide providing an overview of Code of practice 14 and where to find further information.||January 2015|
|Regulatory strategy - public service pension schemes (PDF, 13 pages, 103kb)||Strategy setting out TPR's approach to regulating public service pension schemes in line with statutory objectives.||January 2015|
|Internal controls checklist (PDF, 1 page, 35.5kb)||Use this checklist to evaluate your schemes internal controls.||November 2014|
|A quick guide for public service pension board members (PDF, 4 pages, 63kb)||A quick guide to the role of being a member of a public service pension board.||July 2014|
|A quick guide to public service pension boards (PDF, 4 pages, 84kb)||A quick guide to the role of the pension boards that oversee public service schemes.||July 2014|
Each year the Regulator runs a public service governance and administration survey, which scheme managers are invited to complete in conjunction with their Local Pension Board. Although the survey is not mandatory, participation is strongly encouraged by both TPR and the Scheme Advisory Board, so that improvements in running the FPS can be monitored and evidenced.
TPR do not take any regulatory action based on survey responses, but overall trends may inform their engagement activity with schemes.
The library below contains the summary document and full research report for each year that the survey has taken place.
|2018||Commentary on results - July 2019 (PDF, 7 pages, 610kb)||Public service research report 2018(PDF, 54 pages, 2,430kb)|
|2017||Summary of results and commentary - May 2018 (PDF, 9 pages, 56.8kb)||Public service research report 2017(PDF, 45 pages, 1,120kb)|
|2016||Summary of results and commentary - May 2017 (PDF, 8 pages, 742kb)||Public service research report 2016(PDF, 43 pages, 1,070kb)|
|2015||Summary of results and commentary - Dec 2015 (PDF, 9 pages, 229kb)||Public service research report - Dec 2015 (PDF, 49 pages, 1,620kb)|