The Pensions Regulator (TPR) has announced that its 12-week consultation on its trustee knowledge and understanding (TKU) code of practice and scope guidance has shown widespread report for the TKU regime.

Responses to the draft revised code of practice showed that TKU has become a part of normal trustee activities since implementation in 2006, with most respondents acknowledging a positive change in the way trustees approach their responsibilities.

The Trustee toolkit was also looked at, with respondents recommending that it be complemented by scheme specific training give by an adviser or industry trainer.

"We are delighted to see so much positive feedback on the TKU code," commented Tony Hobman, chief executive at TPR. "It is particularly heartening to hear an acknowledgement of the change in the confidence with which trustees now approach their responsibilities. Some areas for improvement were suggested and we have taken these on board, but there is no evidence that fundamental change is needed to the text on which we consulted."

The revised code could come into effect later this year, and is available here.

- Pensions Age July 2009

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