Consultation outcome

Draft Occupational Pension Schemes (Funding and Investment Strategy and Amendment) Regulations 2023

From:: Department for Work and Pensions
Published: 26 July 2022
Last updated: 29 January 2024 — See all updates

Applies to England, Scotland and Wales

Read the full outcome

Government response: The draft Occupational Pension Schemes (Funding and Investment Strategy and Amendment) Regulations 2023

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Detail of outcome

This document sets out:

the government’s response to the consultation on the draft Occupational Pension Schemes (Funding and Investment Strategy and Amendment) Regulations 2023
a summary of the views raised by respondents
the final draft of the Occupational Pension Schemes (Funding and Investment Strategy and Amendment) Regulations 2024.

It is envisaged that Northern Ireland will make corresponding Regulations to ensure a consistent approach across the United Kingdom.

Original consultation

Summary

This consultation seeks views on the draft Occupational Pension Schemes (Funding and Investment Strategy and Amendment) Regulations 2023, and invites comments on proposals to amend the Occupational Pension Schemes (Scheme Funding) Regulations 2005 and details of the new requirement for defined benefit schemes to appoint a Chair where they do not already have one.

This consultation ran from
9:30am on 26 July 2022 to 11:59pm on 17 October 2022

Consultation description

This consultation seeks views on the draft Occupational Pension Schemes (Funding and Investment Strategy and Amendment) Regulations 2023. These draft Regulations set out the detail of the new requirements in the Pensions Act 2004, inserted by the Pension Schemes Act 2021, for defined benefit pension schemes to have a funding and investment strategy and submit a statement of strategy to the Pensions Regulator.

This consultation also invites comments on the proposals to amend the Occupational Pension Schemes (Scheme Funding) Regulations 2005 and details of the new requirement for defined benefit schemes to appoint a Chair where they do not already have one.

This consultation is aimed at the trustees and managers of defined benefit occupational pension schemes, sponsoring employers, pension industry professionals, pension scheme members, member representative organisations, and any other interested parties.

Documents

Consultation document: The draft Occupational Pension Schemes (Funding and Investment Strategy and Amendment) Regulations 2023

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Consultation document: The draft Occupational Pension Schemes (Funding and Investment Strategy and Amendment) Regulations 2023

PDF, 382 KB, 35 pages

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