Nausicaa Delfas, Chief Executive of The Pensions Regulator, said: “We have long supported the move to fewer, larger well-run schemes with the scale and expertise to invest in diverse assets in savers’ interests, and as such we welcome these announcements today to boost scale and value in the pensions system.”
Asset allocation
Further to HM Treasury’s Pension Investment Review final report, and ahead of the Value for Money (VfM) joint framework, TPR and the Financial Conduct Authority will later this year launch a joint market-wide data collection exercise which will include asset allocation information in workplace defined contribution (DC) schemes.
The exercise is envisaged to run annually until the VfM disclosure data becomes available. The exercise will request asset allocation information from major DC providers, broken down by asset class and sub-asset class, with UK-overseas splits. The first reporting will be available in early 2026.
DB options
TPR welcomes the publication of the DWP’s Options for Defined Benefit schemes response, looking at the future of defined benefit pensions. TPR will shortly issue guidance to support defined benefit schemes in considering the best options for their members over the longer term, some of which may be useful for endgame planning.
The Pensions Regulator is the regulator of work-based pension schemes in the UK. Our statutory objectives are to:
protect members' benefits
reduce the risk of calls on the Pension Protection Fund
promote, and improve understanding of, the good administration of work-based pension schemes
maximise employer compliance with automatic enrolment duties
minimise any adverse impact on the sustainable growth of an employer (in relation to the exercise of the regulator’s functions under Part 3 of the Pensions Act 2004 only)
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