The Department for Work and Pensions (DWP) will publish a white paper on the future of defined benefit (DB) schemes this winter, which will cover consolidation and extra powers for the regulator.
It follows the green paper launched in February, which looked at the sustainability of DB plans and what might be done to secure the future of the schemes.
The DWP confirmed to PP that the white paper would provide "more proactive rather than reactive powers" for The Pensions Regulator (TPR). It will also consider innovative delivery structures such as consolidation and measures to drive efficiency within the sector.
Secretary of state for work and pensions David Gauke said: "The vast majority of DB pension schemes are helping to provide a secure retirement for millions of people.
"However it is clear that experiences differ from scheme to scheme. With more than £1.5trn invested in them, people need to have confidence that they are resilient and robustly regulated.
"This white paper will set out our proposed next steps on what reform is needed to support the sector, including the powers of the regulator. Our way forward is clear and we will ensure that the system continues to balance the needs of consumers, the schemes themselves and business for the future."
The green paper also looked at consolidation of schemes, whether indexation for underfunded schemes could be suspended, and extra information-gathering powers.
While the DWP believes the sector is broadly working as intended, and has previously said there is no affordability crisis in DB, the white paper will consider how the system can be improved.
Correction: An earlier version of this article said the white paper would be published today. The white paper will, in fact, be published by the DWP this winter.
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