05 March 2024
The Department of Work and Pensions (DWP) has published the Automatic enrolment (AE): alternative quality requirements for defined benefits and hybrid schemes being used as a workplace pension consultation outcome.
The DWP has a statutory duty to review regulations in the Pensions Act 2008, section 23A(1), which outlines the quality requirements for UK defined benefit schemes, every three years.
The aim of the review is to test if the regulations are still working as needed, including if there any unintended outcomes.
A consultation ran from 15 May 2023 to 19 June 2023 with the aim to understand if the if the intentions of the policy are still being achieved, and if any new issues have occurred since the last review in 2020.
The consultation outcome document includes the findings of the 2023 review.
The response concluded that the alternative quality requirements should remain in place without changes and that the Pensions Act 2008 tests continue to be met.
The next review is scheduled for 2026.
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