TPR code on MNTs now in force

The Pensions Regulator says although codes of practice are not statements of law, it warns they do have evidential value, which means they will be taken into account by the determinations panel and at a court or tribunal, where relevant. Under the “Member-nominated trustees (MNT) and directors – putting in place and implementing arrangements code” at least a third of pension scheme trustees, or one third of the directors of a trustee company must be member-nominated. In addition the requirements of the code mean arrangements by pension schemes must include a nomination process, and a se...