Consultation outcome

Defined contribution pensions: investments and consolidation

This consultation has concluded

Detail of outcome

Original consultation


A consultation on proposals to encourage defined contribution pension schemes to consider a wider range of investments.

This consultation ran from

Consultation description

This consultation sets out proposals to encourage defined contribution pension schemes to consider investing more widely, in areas such as:

  • start-up companies
  • housing
  • green energy

The proposals include:

  • requiring large schemes to report their policy on these types of investment
  • requiring smaller schemes to assess, every 3 years, whether they should consolidate into a larger scheme
  • changing how schemes calculate charges


Investment innovation and future consolidation: a consultation on the consideration of illiquid assets and the development of scale in occupational defined contribution schemes

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Published 5 February 2019
Last updated 11 September 2020 + show all updates
  1. Added government response and follow up consultation.

  2. First published.