DC Chair statement
The law requires trustee boards of relevant schemes to prepare an annual chair’s statement within seven months of the end of each scheme year. In this statement, trustee boards must describe and explain how they have met certain legislative governance standards, as set out in regulation 23 of the Occupational Pension Schemes (Scheme Administration) Regulations 1996.
The statement must be signed by the chair; if the statement cannot be signed by the chair because the chair ceased to hold office less than three months before the statement is signed, and there is no current chair, you should ask a deputy or acting chair to sign the statement.
The first chair's statement must be produced relating to the scheme year ending on or after 6 July 2015. If the scheme year-end was within the three months following 6 April 2015, trustees are required to include reporting on the period 6 April 2015 – 5 July 2015 within the statement for the following year.
Further information about the chair’s statement is available in Code of Practice 13: Governance and administration of occupational trust based schemes providing money purchase benefits (http://www.thepensionsregulator.gov.uk/codes/code-governance-administration-occupational-dc-trust-based-schemes.aspx) and our DC guide on Communicating and reporting (http://www.thepensionsregulator.gov.uk/trustees/communicating-with-members-in-your-dc-scheme.aspx).