Closed consultation

Options for Defined Benefit schemes

From:
Department for Work and Pensions, Paul Maynard and The Rt Hon Mel Stride MP
Published
23 February 2024
Last updated
7 March 2024 — See all updates
This was published under the 2022 to 2024 Sunak Conservative government

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Summary

This is a consultation on aspects of private sector Defined Benefit schemes, which seeks stakeholder feedback for the future pensions market.

This consultation ran from
to

Consultation description

The aim of this consultation is to introduce reforms to the private sector Defined Benefit pensions system that jointly benefit scheme members, sponsoring employers and the wider economy.

Although pension schemes are in surplus, under current legislation it is difficult and costly for many scheme trustees to share this upside with employers and scheme members. This consultation proposes a number of new measures intended to balance enhanced options for trustees with prioritising the security of member benefits.

This consultation is being conducted in line with the revised Cabinet Office consultation principles published in March 2018.

Documents

Options for Defined Benefit schemes

HTML

Options for Defined Benefit schemes

PDF, 279 KB, 26 pages

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Updates to this page

Published 23 February 2024
Last updated 7 March 2024 + show all updates

  1. Added PDF version of 'Options for Defined Benefit schemes' consultation 23 February 2024.

  2. First published.

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