IRRV Alert - week ending 14th July 2023
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Consultations
Options for Defined Benefit schemes: a call for evidence (11 July 2023)
Open consultation
Options for Defined Benefit schemes: a call for evidence
- From:
- Department for Work and Pensions
- Published
- 11 July 2023
- Last updated
- 14 July 2023 — See all updates
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Summary
A call for evidence to support the development of innovative policy options to increase protection for DB members while supporting wider economic initiatives.
This consultation closes at
11:59pm on 5 September 2023
Consultation description
As part of the government’s policy to promote economic growth, the Department for Work and Pensions (DWP) wants to build an evidence base around how defined benefit (DB) pension schemes could increase the amount invested in productive asset classes. It wants to do this while maintaining appropriate security of the benefits promised, not undermining the fiduciary duties of trustees and maintaining the stability of the gilt market.
This includes exploring the prospect of more investment that provides equity capital and finance for businesses in the UK. This includes start-ups, infrastructure and private equity, as well as longer-term investments, typically in illiquid assets. This has been generically termed investing in ‘productive finance’.
We would like to hear from the pensions industry, especially DB schemes and their sponsoring employers, and other stakeholders who can offer an informed perspective on how DB schemes engage with ‘productive finance’ in practice and how that could change.
We have also published an analysis of the impact of July 2023 pension package on member outcomes.
Documents
Options for Defined Benefit schemes: a call for evidence
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Options for Defined Benefit schemes: a call for evidence
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Published 11 July 2023
Last updated 14 July 2023 + show all updates