Consultation outcome

The Occupational Pension Schemes (Collective Money Purchase Schemes) Regulations 2021

• From: Department for Work and Pensions
• Published: 19 July 2021
• Last updated: 17 January 2022 — See all updates

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

Government response to the consultation on draft regulations to support Part 1 of the Pension Schemes Act 2021 and associated consequential changes

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Annex A: The Occupational Pension Schemes (Collective Money Purchase Schemes) Regulations 2022

PDF, 737 KB, 62 pages

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Annex B: The Occupational Pension Schemes (Collective Money Purchase Schemes) (Modifications and Consequential and Miscellaneous Amendments) Regulations 2022

PDF, 279 KB, 20 pages

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Impact assessment: The Occupational Pension Schemes (Collective Money Purchase Schemes) Regulations 2022

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Detail of outcome

The government published a summary of the comments received and its response to this consultation on 15 December 2021. It also published:

• the final draft of the Occupational Pension Schemes (Collective Money Purchase Schemes) Regulations
• the final draft of the Occupational Pension Schemes (Collective Money Purchase Schemes) (Modifications and Consequential and Miscellaneous Amendments) Regulations
• an impact assessment of the Occupational Pension Schemes (Collective Money Purchase Schemes) Regulations 2022

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Original consultation

Summary

Consultation on Draft Regulations to support Part 1 of the Pension Schemes Act 2021 and associated consequential changes.

This consultation ran from
9:30am on 19 July 2021 to 11:45pm on 31 August 2021

Consultation description

This consultation seeks your views on draft regulations that set out what Collective Defined Contribution (CDC) schemes must do to become authorised, to operate effectively in the market under regulatory oversight, and what happens if changes need to be made to their schemes.

The authorisation regime is designed to protect members and to build confidence in this new form of money purchase occupational pension provision by ensuring only soundly designed and well run schemes are able to operate.

We ask specific questions about some elements of the draft regulations and would also welcome broader views on whether the regulations effectively deliver our intended outcomes.

Documents

The Occupational Pension Schemes (Collective Money Purchase Schemes) Regulations 2021

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Annex A: Draft regulations, The Occupational Pension Schemes (Collective Money Purchase Schemes) Regulations 2021

PDF, 1.28 MB, 57 pages

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Annex B: Disclosure Draft Amendments

PDF, 510 KB, 10 pages

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Annex C: Table of Consequential Amendments

PDF, 405 KB, 3 pages

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Annex D: Draft Consequential Amendments

PDF, 424 KB, 6 pages

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Published 19 July 2021
Last updated 17 January 2022 + show all updates

1. 17 January 2022

   Published a revised version of Annex A: The Occupational Pension Schemes (Collective Money Purchase Schemes) Regulations 2022. Paragraph 7(4) of Schedule 6 has been corrected.

2. 15 December 2021

   Published a summary of the comments received and the government's response to this consultation along with draft regulations and an impact assessment.

3. 19 July 2021

   First published.