Consultation outcome

Occupational pensions: reducing regulatory burdens and minor regulation changes

• From: Department for Work and Pensions
• Published: 12 November 2015
• Last updated: 26 October 2017 — See all updates

This was published under the 2015 to 2016 Cameron Conservative government

This consultation has concluded

Read 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

PDF, 159 KB, 13 pages

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

PDF, 85.2 KB, 21 pages

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Detail of outcome

Chapter 5 response

We published the government response to chapter 5 of this consultation on 26 October 2017 as a consultation on draft regulations – Occupational pensions: improving disclosure of costs, charges and investments. Chapter 5 sought views on disclosure of information about investments.

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.

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Original consultation

Summary

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

This consultation ran from
12 November 2015 to 11:45pm on 11 December 2015

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.

Documents

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

PDF, 227 KB, 50 pages

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Published 12 November 2015
Last updated 26 October 2017 + show all updates

1. 26 October 2017

   Added a link to the government response to chapter 5 (disclosure of information about investments).

2. 1 March 2016

   Added the government response to chapter 4 of the consultation. 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.

3. 1 February 2016

   Added the government response to chapter 3 of the consultation which contained some minor changes to ensure that the pension scheme governance provisions work as intended.

4. 4 December 2015

   We've extended the deadline for responses to this consultation to 11 December 2015 (was 9 December).

5. 12 November 2015

   First published.