Type: Consultation Responses

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Consultation on the Value for Money Framework: draft regulations and draft FCA rules

Background On 13 July 2026, the DWP published a consultation setting out a “detailed proposed approach” to the new value for money (“VFM”) framework for DC schemes (the “Framework”), along with draft regulations (the “draft...

Feedback to HMRC on draft tax legislation for surplus payments to members in a defined benefit pension scheme

Background On 13 July 2026, HMRC issued “draft tax legislation”, together with a policy paper, aimed at allowing occupational defined benefit (“DB”) registered pension schemes to make one-off discretionary payments of scheme...

Discussion paper on key elements of the Scale Policy

Background On 13 July 2026, the DWP published a discussion paper on key elements of the DC default arrangements scale policy. In this response General comments General comments We welcome the opportunity to respond to this consultation. We...

DWP consultation on “Surplus Flexibilities for Defined Benefit Pension Schemes: Unlocking Value for Employers and Scheme Members”

Background On 10 June 2026, the DWP published a consultation on the draft Occupational Pension Schemes (Payments to Employer) Regulations 2027 (“the draft regulations”). In this response General comments Specific consultation questions...

DWP consultation on Proposals to Amend the Occupational and Personal Pension Schemes (Conditions for Transfers) Regulations 2021

Background On 9 June 2026, the DWP published a consultation on proposals to amend the Occupational and Personal Pension Schemes (Conditions for Transfers) Regulations 2021 (the “Regulations”). In this response Responses to specific...

Make Work Pay: Call for evidence on Transfer of Undertakings (Protection of Employment) Regulations

Background On 8 April 2026, the Department for Business and Trade published a call for evidence on the Transfer of Undertakings (Protection of Employment) Regulations 2006 (“TUPE”). In this response Responses to specific questions...

Joint consultation on detailed rules for a new VFM Framework

Background On 8 January 2026, the FCA, the DWP and TPR published a joint consultation on detailed proposals for the new value for money (“VFM”) framework for DC schemes (the “Framework”). TPR has also published an overview of the...

DWP consultation on “Trustees and governance, building a stronger future”

Background On 15 December 2025, the DWP published a consultation on trustees and governance in trust-based pension schemes. This consultation builds on the 2023 call for evidence, to which we also responded. In this response General...