Summary
Public consultation on draft Regulations which set out the conditions that must be met to release surplus from Defined Benefit (DB) pension schemes.
Consultation description
The author for this consultation is the Department for Work & Pensions (DWP). As such, all consultation information and related documents can be found on the on GOV.UK page, Surplus Flexibilities for Defined Benefit Pension Schemes: Unlocking Value for Employers and Scheme Members
This consultation seeks views on draft Regulations; it is anticipated that corresponding legislation will be made for Northern Ireland. These draft Regulations set out the conditions that must be met for trustees of Defined Benefit pension schemes to make a surplus payment to the sponsoring employer. This will enable more trustees of well-funded schemes to release surplus to the sponsoring employer and benefit member.