Consultation outcome

Occupational pensions: reducing regulatory burdens and minor regulation changes

This consultation has concluded

Download the full outcome

Government response (to chapter 4): The Occupational Pension Schemes (Requirement to obtain Audited Accounts and a Statement from the Auditor) (Amendment) Regulations 2016

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Government response (to chapter 3): Better Workplace Pensions: minor regulation changes to the governance provisions

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Detail of outcome

Chapter 4 response

We published the government response to chapter 4 of this consultation on 1 March 2016.

Chapter 4 sought views on proposals to update the regulatory requirements for investment disclosure and to remove the requirement to obtain an auditor’s statement about contributions from large multi-employer schemes.

Having considered responses to the consultation, the government has decided to proceed with the proposed approach.

Chapter 3 response

We published the government response to chapter 3 of this consultation on 1 February 2016.

Chapter 3 sought views on the draft Occupational Pension Schemes (Charges and Governance) Regulations 2016 which contained some minor changes to ensure that the pension scheme governance provisions work as intended.

The final draft Occupational Pension Schemes (Scheme Administration)(Amendment) Regulations 2016 were laid before Parliament for approval on 1 February 2016.

Still to come

We will respond to the reducing regulatory burdens and investment disclosure aspects of the consultation in due course.

Original consultation

This consultation ran from to

Summary

This consultation also includes the government response to the consultation on investments in occupational pension schemes (27 Feb 2015).

Documents

Better Workplace Pensions: Reducing regulatory burdens, minor regulation changes, and response to consultation on the investment regulations

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Consultation description

This consultation seeks views on changes to the:

  • Occupational Pension Schemes (Scheme Administration) Regulations 1996
  • Occupational Pension Schemes (Charges and Governance) Regulations 2015
  • Occupational Pension Schemes (Requirement to obtain Audited Accounts and a Statement from the Auditor) Regulations 1996

It also seeks views on:

  • how regulatory burdens can be reduced while maintaining member protection
  • improving the way information about investments is disclosed to beneficiaries

The consultation document also includes the government response to the consultation on Changes to the law on investments in occupational pension schemes published on 27 February 2015.