DWP publishes consultation on surplus extraction and public sector consolidator options for DB schemes
On February 23, 2024, the DWP published a consultation paper with proposals facilitating DB scheme surplus extraction and investment of scheme assets in the productive finance proposals outlined in the 2023 Mansion House speech. It also introduces the plan for a public consolidator vehicle operated by the PPF by 2026, which aims to be accessible to smaller, less well-funded schemes unable to secure an insurance buy-out.