DEFINED BENEFIT

KEY TOPICS

DB Taskforce

The Taskforce is led by Ashok Gupta, co-deputy chair of the Bank of England’s enquiry into pro-cyclical investment by pension funds and insurance companies. He is joined by...

DB funding

Recent economic conditions and increasing longevity have put DB schemes under pressure. The...

Pension scams

The PLSA has proposed that the Government should introduce an authorisation regime for....

Pension Protection Fund Levy

The Pension Protection Fund (PPF), set up to compensated DB members when their sponsoring employer can no longer support the scheme has undergone a number of changes in recent...

Employers participating in the LGPS

The number of employers such as universities, charities and housing associations...

The Local Government Pension Scheme

The Local Government Pension Scheme (LGPS) is one of the largest defined benefit....

State pension reform

The Government is reforming State Pension, merging the Basic State Pension and Additional State Pension. From 6 April 2016 those reaching State Pension Age will receive...

GMPs

Before 1997, contracted out defined benefit schemes were required to provide guaranteed minimum pensions (GMP) in respect to contracted out service...

The Longevity Model

The Pensions and Lifetime Savings Association in conjunction with Club Vita has looked at the difference in future life expectancy between...

Annual Survey

Our annual survey shows trends in defined benefit, defined contribution, pension scheme investment and governance...

Charities working group

Our charities working group is helping develop possible easements for charities and...

DB IN FOCUS

Defined benefit (DB) pensions schemes, and the 7.3 million people who are actively saving with them, are facing unprecedented challenges. Increased longevity, difficult market conditions and a tough regulatory environment are all contributing factors.

In response to these challenges, many DB schemes have closed over the last decade. The Pensions and Lifetime Savings Association argue that DB provision needs to be supported to prevent decline from posing a threat to the security of members’ pension provision and the role that DB pension schemes play in UK investment.

The Pensions and Lifetime Savings Association also has many local government members, which include over 70% of the 101 funds that make up the Local Government Pension Scheme.