DB v DC: RESOLVING OUR DIFFERENCES
In my last vlog I talked about the looming pensions catastrophe in the coming decades, when people won't have enough to live on after they stop working.
A key contributor is the growing and unfair divide between Defined Benefit and Defined Contribution pensions. Workers in the private sector are increasingly dependent on the uncertain outcome of Defined Contribution pensions, while sharing with all taxpayers the future cost of unfunded Defined Benefit liabilities in the public sector – estimated at around £1.5 trillion.
In the fifth of our series, DB v DC , which you can read watch or listen to, I suggest we need to be frank and open about resolving our differences, so we can plan ahead with more confidence.