2022: DC Survey - To Govern or to Consolidate?
2022: DC Survey - To Govern or to Consolidate?
21 Mar 2022
The Government believes that bigger DC schemes deliver better member outcomes and wants ‘smaller‘ DC schemes to either meet new minimum governance requirements, or consolidate into larger schemes. Those managing smaller DC arrangements will have to choose one of these two options and the Department for Work and Pensions (DWP) expects decisive action. For many schemes, this will mean making some big decisions on whether to make changes to their current approach or to consolidate into other arrangements, making 2022 a key year.
To help trustees and employers understand the direction of travel, we asked XPS clients that look after DC Trust based schemes how they plan to respond to DWP’s call to action and to better understand how the market will evolve over the years.
Included within this report is a summary of our survey results, some key actions that trustees or employers must consider and a reminder of the regulatory change which has brought this all to the table.