Hogan Lovells

Key Dates

Consultation and draft regulations issued on 26 October 2017.

Consultation response and final regulations issued on 26 February 2018.

The Occupational Pension Schemes (Preservation of Benefits and Charges and Governance) (Amendment) Regulations 2018/240 in force on 6 April 2018. Regulation 2(2) in force on 6 April 2018 (except for the provision removing the actuarial certificate option for DC to DC bulk transfers, which will come into force on 1 October 2019.

The DWP issued guidance for trustees on 30 April 2018.


Summary

The DWP has issued a consultation response and final regulations, following consultation in the autumn of 2017.

The changes made by the new regulations will apply only to "relevant money purchase rights" and will not be applicable to money purchase benefits with guarantees (including guarantees under assets held for the purpose of providing the benefits).

Actuarial certificate (scheme quality requirement)

Scheme relationship condition

Member protections

Follow up

The DWP issued guidance for trustees on 30 April 2018.



Date Accessed: 28/05/2022