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The future of the defined benefit system: evolution not revolution?

Overview

The Government has finally published its long-awaited White Paper, Protecting Defined Benefit Pension Schemes.

 

The first half contains proposals intended to protect defined benefit (DB) pension schemes from " the small number of employers" prepared to abuse them and to improve the DB scheme funding framework. It then looks at existing ways of consolidating DB schemes and, in particular, whether it would be possible to introduce new commercial consolidation vehicles.

 

This article highlights some of the main proposals.