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The Occupational Pension Schemes (Master Trusts) Regulations 2018
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4. Whether the scheme’s systems and processes ensure that—
(a)there is an accurate record of each member’s details, including the contributions made in respect of each active member for each pay period, on the relevant IT system;
(b)any unpaid contribution in respect of active members can be explained to the Regulator and remedied;
(c)members’ records are reviewed regularly for completeness and accuracy and updated promptly with changes of information;
(d)errors in members’ records can be identified and addressed, and any financial impact of such errors on members can be rectified;
(e)records are maintained in respect of each member in decumulation for each financial year including—
(i)the method of decumulation,
(ii)the total amount withdrawn from the scheme and the amount taken as free from income tax, and
(iii)the amount of pension income received.
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