Date of Screening: 28/04/2023
Screening Outcome - Full EQIA recommended: No
The proposed Statutory Rule make amendments to the requirements relating to the administration and governance of occupational pension schemes.
In the last few years, there has been a noticeable increase in Defined Contribution (DC) pension schemes’ considerations of the benefits that may arise from a more diversified investment strategy. The proposed Rule introduces requirements for relevant occupational DC schemes to report their policies on illiquid investment and to publicly disclose their asset allocations in their annual Chair’s Statement. For most DC pension schemes with 12 or more members, the proposed regulations will require them to report their policy on illiquid investments in their default Statement of Investment Principles (SIP) and disclose the allocation of assets in their default funds.