Occupational Pensions

Department for Work and Pensions written question – answered on 8th November 2018.

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Photo of Jack Dromey Jack Dromey Shadow Minister (Work and Pensions) (Pensions)

To ask the Secretary of State for Work and Pensions, pursuant to the Answer of 18 October 2018 Question 177666 on Occupational Pensions, what steps her Department is taking to ensure members of the public are aware of the IORP2 Directive on occupational retirement savings.

Photo of Guy Opperman Guy Opperman The Parliamentary Under-Secretary of State for Work and Pensions

The key elements of IORP II – for example, rules around scheme funding and supervision of schemes - are already required within UK law and the Pensions Regulator’s Codes of Practice. As such, appropriate communications about these measures are already in place.

The DWP has worked closely with the Pensions Regulator to develop communications about the new requirements introduced by IORP II. Information about this has been shared with industry stakeholders to communicate to individual pension schemes. The Pensions Regulator is currently considering the most appropriate format and content of communications about IORP II to release to other audiences.

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