Legislative requirements

Legal obligations to keep records about members and their benefits arise from many sources, including trust law, primary and secondary legislation, tort, contract law and European law.

Statutory record-keeping requirements are set out in:

  • The Pensions Acts 1995, 2004 and 2008
  • The Occupational Pension Schemes (Scheme Administration) Regulations 1996
  • The Occupational Pension Schemes (Internal Controls) Regulations 2005
  • The Personal Pension Schemes (Disclosure of Information) Regulations 1987
  • The Data Protection Act 1998
  • The IORP Directive

As well as these statutory requirements trustees, managers and providers of pension schemes have a duty to ensure that:

  • Data is protected in the event of unforeseen events (business continuity, disaster recovery)
  • Data is complete, accurate and fit for the purpose to which it is put

For information on our Pensions Data Services contact Mark Johnson or David Davison on 0141 331 1004.