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    Options for defined benefit pension schemes: Insight’s views

    Options for defined benefit pension schemes: Insight’s views

    26 March 2024 Solutions
    The government’s consultation on options for DB schemes could have significant long-term implications and potential benefits.

    The government has launched a consultation on the options for defined benefit (DB) schemes, requesting feedback by 19 April. Given the significant long-term implications of the proposals within the consultation and the potential benefits, we strongly encourage interested stakeholders to respond.

    Insight welcomes proposals in the consultation to enhance the ability of UK DB pension schemes to deliver better outcomes to members, sponsors and society. We broadly support proposals around the sharing of surplus between members and sponsors and enhancing the role of the Pension Protection Fund (PPF) as a lifeboat. However, details around the proposed public sector consolidator and the levy for enhanced PPF protection (a 100% underpin) need to be revised to avoid detrimental, unintended consequences.

    Read a summary of our views in our short paper.

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