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We published this government response to the consultation on the Occupational Pension Schemes (Preservation of Benefits and Charges and Governance) (Amendment) Regulations 2018 on 26 February 2018.
This consultation seeks views on draft regulations which would:
- replace the requirement to obtain an actuarial certificate for bulk transfers of defined contribution (DC) pensions without member consent (DC to DC) with an alternative test and new member protections
- remove the scheme relationship condition for these transfers
- maintain charge cap protections for those transferred without consent
This consultation follows an earlier call for evidence on bulk transfers of defined contribution pensions without member consent (December 2016).
We welcome views from any interested parties, particularly:
- pension industry bodies and professionals
- trustees or scheme managers
- pension scheme members and beneficiaries
- employers and representative organisations