Source · Select Committees · Work and Pensions Committee
Recommendation 8
8
Paragraph: 34
Making green investments, particularly in infrastructure, can be complex and costly.
Recommendation
Making green investments, particularly in infrastructure, can be complex and costly. Larger schemes are usually better placed to meet those costs and to provide the high level of scheme governance required. We welcome the intent of the Department for Work and Pensions and the Pensions Regulator in encouraging scheme consolidation. We recommend that the Pensions Regulator report annually on the progress made to consolidate schemes within its existing research and analysis publications.
Paragraph Reference:
34
Government Response
Acknowledged
HM Government
Acknowledged
Annual reporting on the progress made to consolidate schemes is already available. The Pensions Regulator DC trust scheme return data26 and the Purple Book published by the Pension Protection Fund on DB schemes27 provides year on year breakdowns of the number of schemes in existence, showing how the landscape is consolidating. This information is in the public domain and easily accessible. The Pensions Regulator Defined Benefit Annual Report28 and the DC trust scheme return data also provide a high-level snapshot of the current landscape of occupational DB and DC trust-based pension provision in the UK, including information on the number, membership and assets of schemes. 22 Greening Finance: A Roadmap to Sustainable Investing (publishing.service.gov.uk), p.22. 23 Greening Finance: A Roadmap to Sustainable Investing, (publishing.service.gov.uk), p. 22,27. 24 Greening Finance: A Roadmap to Sustainable Investing (publishing.service.gov.uk), p.27. 25 Greening Finance: A Roadmap to Sustainable Investing, (publishing.service.gov.uk), p. 27. 26 DB defined benefit annual report | The Pensions Regulator; The Purple Book | Pension Protection Fund (ppf. co.uk) 27 DB defined benefit annual report | The Pensions Regulator; The Purple Book | Pension Protection Fund (ppf. co.uk) 28 DB defined benefit annual report | The Pensions Regulator 6 Government Response: Pension stewardship and COP26