DWP consultation: new strategic options for DB pension schemes




On 23 February 2024, the government published a consultation on new options for DB pension schemes, with the key proposals being:

  • Greater flexibility for trustees to distribute DB surpluses
  • The PPF establishing a “public sector consolidator” for DB schemes

The key policy objectives include encouraging investment in productive finance, whilst protecting member pensions. The first proposal includes consideration of LCP’s own policy proposals (details here) including the option of a 100% PPF underpin to provide strong additional member protection. 

These are bold and ambitious plans, designed, according to the DWP, to "overhaul" the pensions landscape, and which may have significant implications for pension schemes, their members and the wider industry. In our webinar on 26 March, our expert speakers will:

  • Summarise the overall policy objectives of the consultation;
  • Explain the proposals, including the potential design features of the public sector consolidator, as set out in the discussion document subsequently published by the PPF;  
  • Discuss what the changes might mean for DB pension scheme strategy, for a range of different pension schemes and for both trustees and sponsors;
  • Consider possible next steps.  

Who should attend? 

This is open to trustees, pensions managers, corporate sponsors of DB schemes and anyone involved in the future of DB pensions. 

Watch On-Demand