This is a two stage resolution process called the Internal Dispute Resolution (IDR) procedure. It is a statutory process that all occupational pension schemes must have in place.
The regulatory requirements for dispute resolution arrangements can be found in the following:
- Sections 50, 50A and 50B of the Pensions Act 1995, as inserted by the Pensions Act 2004 (as amended)
- The Occupational Pension Schemes (Internal Dispute Resolution Procedures Consequential and Miscellaneous Amendments) Regulations 2008