The government has issued its 'Protecting defined benefit pensions schemes' white paper – somewhat sooner than expected.
The paper, ‘Protecting defined benefit pension schemes’, takes the view that the current system works well for most schemes and employers but that a tougher approach is needed for those failing to act responsibly.
Against that background, it proposes changes in three main areas:
Whilst it may be years before some of the proposals, particularly those requiring primary legislation have formal effect, we expect that the white paper will nonetheless drive immediate behavioural changes amongst pension scheme sponsors and trustees.
Download our 'Protecting defined benefit pension schemes' report to find out more about the paper.