Autumn Statement Pensions Reform 2023 documents published
The Government has published a raft of documents following the Chancellor’s Autumn Statement (see Perspective News: 22 November 2023) including consultation responses, calls for evidence and research and analysis. The DWP has published the following documents:
- Helping savers understand their pension choices: supporting individuals at the point of access: Government response to the products and services element of the consultation on Helping savers understand their pension choices.
- Ending the proliferation of deferred small pension pots: This document combines the Government response to the public consultation on the proposal to resolve the small pots issue, and a new call for evidence on the long-term direction of workplace pension saving, Looking to the future: greater member security and rebalancing risk. This call for evidence closes at 11:59pm on 24 January 2024.
- Options for Defined Benefit schemes: Government response to the consultation to support the development of innovative policy options to increase protection for DB members while supporting wider economic initiatives.
- Trends in the Defined Contribution trust-based pensions market: Analysis which provides high-level estimates of the changing pension landscape since the roll-out of automatic enrolment, and assesses the potential outlook by 2030.
- Evolving the regulatory approach to Master Trusts: A review of the master trusts authorisation and supervisory regime and the wider market. The review looks at: market segmentation; costs; charges; consolidation; increasing scale; and the relationship with the Chancellor’s Mansion House compact and other DWP policies and policy proposals.
The DWP and HM Treasury have published the following document:
- Pension trustee skills, capability and culture: Government response to the consultation to support the development of policy options for improving the skills and capability of pension trustees and removing barriers to trustees’ ability to make effective investment decisions.
The Department for Levelling Up, Housing and Communities has published the following document:
- Local Government Pension Scheme (England and Wales): Next steps on investments: Government response to the consultation which sought views on proposals relating to the investments of the Local Government Pension Scheme (LGPS). Following consideration of the responses, the Government has decided to proceed with the proposed reforms and covers the areas of asset pooling, levelling up, opportunities in private equity, investment consultancy services and the definition of investments.
To view the documents on Perspective, follow the links above.