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The Work and Pensions Committee yesterday published the Government Response to its report on defined benefit pensions with Liability Driven Investments (LDIs).

• Read the Government Response (HTML)
• Read the Government Response (PDF)
• Read the full report (HTML)
• Read the full report (PDF)
• Read the report summary
• Inquiry: Defined benefit pensions with Liability Driven Investments
• Read the report's conclusions and recommendations
• Find all publications related to this inquiry, including oral and written evidence
• Work and Pensions Committee

The report, published in June, warned that more still needed to be done to address weaknesses in the ability of DB schemes to manage risk and that their investments must never again be allowed to jeopardise the stability of the UK economy as they did during the events of September 2022.

The Government and the Pensions Regulator (TPR) have reacted positively to a number of the Committee’s recommendations, including committing to further analysis to understand the impact of the episode on scheme funding, improving oversight of pension schemes’ ability to respond to market movements and taking steps to improve governance standards.

Chair's comment

Work and Pensions Committee Chair, Rt Hon Sir Stephen Timms MP, yesterday said:

“The commitment by the Government and The Pensions Regulator to improve oversight, governance standards and the management of systemic risk is a welcome step in the right direction. What we need to see now is a clear timeline for taking the measures forward.  The Committee will be keeping a close eye on progress.”

Further information

• About Parliament: Select committees
• Visiting Parliament: Watch committees