Consultation outcome

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

This was published under the 2019 to 2022 Johnson Conservative government

Applies to England, Scotland and Wales

This consultation has concluded

Read the full outcome

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
to

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

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Consultation impact assessment

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Updates to this page

Published 26 July 2022
Last updated 29 January 2024 + show all updates
  1. Added government's response to the consultation on the draft Occupational Pension Schemes (Funding and Investment Strategy and Amendment) Regulations 2023.

  2. HTML versions of consultation document and impact assessment added.

  3. First published.

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