Automatic Enrolment Retirement Savings System Act 2024 section 44

Supervisory report by Pensions Authority

Section 44 requires the Pensions Authority to prepare and submit a supervisory report to the Minister after each reporting period, covering the Authority's performance, governance systems, and the overall operation of the Act.

• After each reporting period, the Pensions Authority must prepare a supervisory report and submit it to the Minister in accordance with section 45.
• The report must review the performance of both the Authority and the Board, the effectiveness of internal governance systems (including internal controls, risk management, investment manager appointments, and service provider oversight), and the operation of the Act itself.
• The report must contain the Authority's findings, its current assessments of governance arrangements and the Act's effectiveness, and any recommendations it considers appropriate — and should, so far as practicable, take account of developments since the end of the reporting period.
• The first reporting period runs from the date the section comes into operation to 31 December of that year (or to 31 December of the following year if that initial period would be less than six months), with each subsequent calendar year forming a reporting period thereafter.