Pensions schemes annual report disclosures checklist — SORP 2015

Published on: 18 Aug, 2016

The Pensions Research Accounting Group (PRAG) published the revised Financial Reporting of Pension Schemes - A Statement of Recommended Practice 2015 ("the 2015 Pensions SORP") in November 2014.  This was a complete update of the 2007 Pensions SORP to incorporate the content required to comply with Financial Reporting Standard (FRS) 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland.

The new reporting framework is effective for all pension schemes with periods commencing on or after 1 January 2015.

Deloitte have prepared a detailed disclosure checklist that allows preparers of UK occupational pension scheme financial statements to determine whether they are fully compliant with the 2015 Pensions SORP.

This checklist also covers the financial reporting requirements of other key Regulations, including:

  • The Pensions Acts 1995 and 2004. 
  • The Occupational and Personal Pension Schemes (Disclosure of Information) Regulations 2013.
  • The Occupational Pension Schemes (Requirement to Obtain Audited Accounts and a Statement from the Auditor) Regulations 1996 (including the amendment to the Regulations issued in April 2015)
  • The Occupational Pension Schemes (Scheme Administration) Regulations 1996. 
  • The Occupational Pension Schemes (Charges and Governance) Regulations 2015 (including the requirement for a DC Chairman’s Statement).

This disclosure checklist builds on the practical guidance in A practical user guide to the 2015 Pension SORP that we published in 2015.


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