Our four-step guide to new pension consolidation rules

We’ve put together a four-step checklist with useful tips and guidelines around the new reporting requirements and obligations around pension consolidation.

From 31 December 2021, new regulationscome into force which require DC
schemes to carry out extended value-formoney assessments and report back on whether consolidation into another scheme would improve outcomes for their members.

These new reporting obligations will initially only affect DC schemes with assets of less than £100 million. However, a consultation is underway to consider whether the regulations should be extended to schemes with assets of between £100 million and £5 billion.

Meanwhile, from 1 October, increased investment reporting requirements were introduced that apply to all schemes.
To help support you, we’ve put together our four-step checklist below, which offers you
useful tips and guidelines for addressing the new changes affecting pension consolidation.