Section 11 — Pensions Act 2004: Annual reports to Secretary of State

Annual reports to Secretary of State 11 1 The Regulator must prepare a report for each financial year.

2 Each report—

a must deal with the activities of the Regulator in the financial year for which it is prepared, including the matters mentioned in subsection (3),

and b must include the report prepared under subsection (5) of section 8 by the committee established under that section.

3 The matters referred to in subsection (2)(a) are—

a the strategic direction of the Regulator and the manner in which it has been kept under review;

b the steps taken to scrutinise the performance of the Chief Executive in securing that the Regulator’s functions are exercised efficiently and effectively;

c the Regulator’s objectives and targets (including its main objectives as set out in section 5 or in any corresponding provision in force in Northern Ireland) and the steps taken to monitor the extent to which they are being met;

d the exercise of the Regulator's functions in relation to public service pension schemes.

4 The Regulator must send each report to the Secretary of State as soon as practicable after the end of the financial year for which it is prepared.

5 The Secretary of State must lay before each House of Parliament a copy of every report received by him under this section.

6 In this section “ financial year ” means—

a the period beginning with the date on which the Regulator is established and ending with the next following 31st March, and b each successive period of 12 months.