Explanatory Memorandum to The Pensions Regulator Code of Practice (29 April 2026)
Explanatory Memorandum to The Pensions Regulator Code of Practice: Authorisation and Supervision of Collective Defined Contribution Schemes 2026.
The Department for Work and Pensions is establishing a regulatory framework for Collective Defined Contribution (CDC) pension schemes, which pool investment and longevity risks across members while providing defined benefits. The Collective Defined Contribution Pension Schemes Bill and supporting regulations (including the 2025 Extension to Unconnected Multiple Employer Schemes Regulations) are being implemented to authorise and supervise these schemes. The Pensions Regulator has issued codes of practice on authorisation and supervision, with the policy currently in active implementation phase.
Explanatory Memorandum to The Pensions Regulator Code of Practice: Authorisation and Supervision of Collective Defined Contribution Schemes 2026.
In response to: The Occupational Pension Schemes (Collective Money Purchase Schemes) Regulations 2021