Draft Occupational Pension Schemes (Funding and Investment Strategy and Amendment) Regulations 2023

This consultation seeks views on the draft Occupational Pension Schemes (Funding and Investment Strategy and Amendment) Regulations 2023. These draft Regulations set out the detail of the new requirements in the Pensions Act 2004, inserted by the Pension Schemes Act 2021, for defined benefit pension schemes to have a funding and investment strategy and submit a statement of strategy to the Pensions Regulator.

This consultation also invites comments on the proposals to amend the Occupational Pension Schemes (Scheme Funding) Regulations 2005 and details of the new requirement for defined benefit schemes to appoint a Chair where they do not already have one.

This consultation is aimed at the trustees and managers of defined benefit occupational pension schemes, sponsoring employers, pension industry professionals, pension scheme members, member representative organisations, and any other interested parties.