SUSTAINABLE (PRIVATE SECTOR) DB
In November 2016, Richard Harrington, Parliamentary Under-Secretary of State for Pensions, told the Work and Pensions Select Committee which was investigating defined benefit (DB) pension schemes that in a forthcoming Green Paper the Government would propose real solutions to ensure the sustainability of DB pensions (meaning private sector DB pensions; the sustainability of the public sector schemes - particularly the unfunded schemes, which is most of them - unfortunately is not currently up for discussion).

The Minister said

    "What I don't want it to be is another kicking of the can down the road, because some issues are extremely difficult, but it is for Parliament-specifically for Government and DWP-to get to grips with them, so I am hoping it will be comprehensive but not just a general conversation."

On 20 February 2017, the Green Paper was published: a 103-page DWP

consultation document "Defined benefit pension schemes: security and sustainability".

The Government Actuary's Department has issued simultaneously a 2-page bulletin setting out the context in which the Green Paper is set and summarises some of the key areas where DWP are seeking views. The GAD notes the Select Committee's December 2016 report . . .

21 Feb 2017   Check other news items


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