Government papers: Protecting Defined Benefit Pension Schemes
Key outcomes:
- For all schemes and businesses, the government will clarify the rules and expectations by introducing a clearer, enforceable Defined Benefit Funding Code. However, it will not make fundamental changes to the existing system.
- Tougher, more proactive powers will be put in place so that The Pensions Regulator can intervene more effectively to protect individuals.
- Further consultations will be launched on a framework for consolidation, offering the pensions industry the opportunity to innovate but also ensuring there are robust safeguards in place so members’ benefits are well protected.
