Regulator: providers must monitor AE employer contributions

The code of practice on maintaining contributions has dropped the controversial requirement for providers to report ‘nil returns' to demonstrate compliance after industry concern. Trustees and providers are now still required to monitor payments, ensure members have sufficient information to check contributions, and report material payment failures to TPR within a reasonable timeframe. The guidelines make it clear, however, that providers and trustees should take a risk-based approach and will not be expected to gather payroll information, such as members' pensionable pay, "as a matte...