# Pension Schemes Act 2026, Section 50: Default pension benefit solutions

Extent: E+W+S

(1) Subject to section 51(1), the trustees or managers of a relevant scheme must—
(a) design, and make available to each eligible member of the scheme, one or more default pension benefit solutions;
(b) at least in such circumstances or at such times or intervals as may be prescribed, review the design (and if appropriate the number) of the default pension benefit solutions.
(2) In this Chapter “pension benefit solution”, in relation to a pension scheme, means a contractual or other arrangement for making pension payments in respect of members’ accrued rights.
(3) In this Chapter “default pension benefit solution”, in relation to a relevant scheme, means a pension benefit solution which—
(a) is designed for delivering money purchase benefits under the scheme to—
(i) the eligible members of the scheme generally, or
(ii) a subset of those eligible members,
(b) is designed to provide a regular income for the eligible members concerned in their retirement (whether or not together with other benefits),
(c) is for the time being designated by the trustees or managers of the scheme as the pension benefit solution under which—
(i) the eligible members of the scheme generally, or
(ii) a subset of those eligible members,
will receive pension payments unless they choose to receive pension payments under a different pension benefit solution, and
(d) meets any other conditions that may be prescribed.
(4) The trustees or managers of a relevant scheme must, in determining what default pension benefit solutions the scheme should make available (generally or to subsets of eligible members), take account of—
(a) the needs and interests of—
(i) the scheme’s membership as a whole, and
(ii) any subset of the scheme’s membership that the trustees or managers consider appropriate;
(b) the circumstances of different eligible members of the scheme (for example the normal pension ages of such members or the value or expected value of their money purchase benefits under the scheme);
(c) the possibility that a member may already have received some of their benefits (for example as a lump sum) before deciding to make use of a default pension benefit solution;
(d) such other factors as may be prescribed.
(5) Regulations may make provision about how trustees or managers of a scheme are to assess the needs and interests of the scheme’s membership for the purposes of subsection (4)(a).
(6) Regulations may—
(a) specify descriptions of eligible members in relation to which subsection (3) is to have effect with the omission of paragraph (b) of that subsection;
(b) make provision about the meaning for the purposes of subsection (3)(b) of—
(i) “designed to provide a regular income”;
(ii) “retirement”.
(7) In this Chapter—
“eligible member”, in relation to a relevant scheme, means any member who is accruing, or has an actual or prospective right to, benefits falling within paragraph (a) of the definition of “money purchase benefits” in section 181(1) of the Pension Schemes Act 1993 and is not of a description excepted by regulations;
“relevant scheme” means an occupational pension scheme which—
(a) provides benefits falling within paragraph (a) of the definition of “money purchase benefits” in section 181(1) of the Pension Schemes Act 1993,
(b) is a registered pension scheme, and
(c) is not of a description excepted by regulations.
(8) Regulations under this section—
(a) are subject to the negative procedure if they are made under subsection (1)(b) or (6)(a)
(b) otherwise, are subject to the affirmative procedure.

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Source: https://www.legislation.gov.uk/ukpga/2026/22/section/50 (the official version)
Page: https://openlegislation.uk/pension-schemes-act-2026/section-50
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.