FOI reference - FOI-231
Date - 20 February 2024
Request
Do you know if the figures in the 2023 Defined Benefit (DB) Landscape publication relate to numbers of schemes or numbers of sections? I don’t think it’s clear from the wording, but I’m thinking it looks like you may be reporting by Scheme Return (or by PSR) so a scheme with many sections would feature many times in the analysis?
If that’s the case, is it possible to tell me the number of actual schemes where at least one section within that scheme is open to new members?
Response
I confirm that we hold the information you have requested.
When considering a scheme with multiple sections as one segregated scheme, there are 124 DB and hybrid schemes are open to both new joiner and future accrual (open). This includes schemes which only have one section which is open; and schemes which have multiple sections, at least one of which is open. Multiple sections of the same scheme are only counted once in this calculation.
For further context, the source for this data is TPR's records, based on the information received directly from the schemes in response to the mandatory Annual Scheme Return. Data is not weighted or inputted to account for non-response to the survey. An open scheme is defined as one where new members can join the DB section of the scheme and accrue benefits.
Some data cleansing has taken place to adjust status to be consistent with other data held by TPR. The ordered validation steps taken are:
- Step 1: for mixed hybrid schemes that have identified that they will not accept new members who would accrue a defined benefit entitlement, we have adjusted the status to 'closed to new members'.
- Step 2: where a scheme states they are open or closed to new members but have both no active DB members and no active liabilities, the status is adjusted to 'closed to future accruals'.
- Step 3: where a scheme states they are paid up (frozen) to new members but have both active DB members and active liabilities, the status is adjusted to 'open to future accrual'.
- Step 4: where a scheme states they are open but have had declining total membership over the previous three years, the status is adjusted to 'closed to new members'.
In all other cases, statuses are taken to be as submitted by the scheme.
Schemes included are DB and Hybrid schemes which have DB members. Schemes excluded are non-registerable schemes, wound up schemes, or schemes with less than two members. This data was as of TPR records on 31 March 2023.