20-20 Trustees launches service for Single Code of Practice support

A new service to help schemes with the implementation of The Pensions Regulator’s new Single Code of Practice has been launched by 20-20 Trustees.

The service and newly formed team are designed to support trustees and scheme sponsors ensure all their needs are met in relation to the code.

It aims to not only ensure all their schemes remain compliant with the new combined code, but to do so in an efficient and cost-effective way that helps drive schemes forward.

Members of the team include Stuart Travers, Angela Winchester, Chris Halewood, and Vanessa Roberts.

20-20 Trustees trustee director, Stuart Travers, commented: “We have created a team of dedicated governance specialists, ready to help ensure each of our clients can evidence they are meeting and delivering on all aspects of the new combined code.

“This team can support both sponsors, and their own trustee boards, who are striving to meet the new challenges this combined code may present, with strategic and cost-effective solutions.”

The Single Code of Practice will consolidate 10 of the existing 15 codes of practice that govern UK pension schemes, with the intention to incorporate the remaining ones at a future date.

As a professional trustee firm, 20-20 Trustees stated that its role is to “breakdown, translate and work to ensure the adherence of all the key stakeholders involved with your scheme, so that we can meet the five key areas covered by the new code using our team of experts whose specialisms and backgrounds provide a unique reference point".

The trustee firm also emphasised that the code would have wide application and, as a result, nearly all schemes will be required to review their governance arrangements.

The combined code is expected to become effective in autumn 2022.

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