SI explanatory text
Chapter 3 (AWE Pension Scheme) of the Pension Schemes Act 2026 (“the 2026 Act”) establishes a legislative framework to create a new public pension scheme for members of the AWE Pension Scheme, and to transfer the assets of the pension scheme to government. These Regulations are made under section 116 of the 2026 Act and enable the Secretary of State to issue directions that will require the transfer of pension scheme assets to central government.