DWP green paper on db pensions – PLSA comment

20 February 2017

The Pensions and Lifetime Savings Association today (Monday) welcomed the Department for Work and Pensions Green Paper Security and Sustainability in Defined Benefit Pension Schemes’

Graham Vidler, Director of External Affairs, Pensions and Lifetime Savings Association, said: 

“The Green Paper asks the questions necessary to move forward the increasingly pressing debate about the future of defined benefit pensions in the UK.  The interim report published by our DB Taskforce last year identified how the challenges facing DB are posing a material risk to members’ benefits, to employers and the wider economy. 

“We firmly support the Government’s desire to explore consolidation as a way to secure the defined benefit pensions of millions of savers. The DB Taskforce’s next report, to be published in March, will look at consolidation in more detail.” 

A copy of the PLSA DB Taskforce Interim Report can be found on our website here.  The Taskforce’s next report will be presented on 9 March at the PLSA Investment Conference in Edinburgh by Ashok Gupta.  The session will be web-streamed live and available to view by registering here.    

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NOTES TO EDITORS:

We’re the Pensions and Lifetime Savings Association; the national association with a ninety year history of helping pension professionals run better pension schemes. Our members include over 1,300 pension schemes with 20 million members and £1 trillion in assets, and over 400 businesses. They make us the voice for pensions and lifetime savings in Westminster, Whitehall and Brussels.

Our purpose is simple: to help everyone to achieve a better income in retirement. We work to get more money into retirement savings, to get more value out of those savings and to build the confidence and understanding of savers.

CONTACTS:

Lucy Grubb, Head of Media and PR, Pensions and Lifetime Savings Association
T: 020 7601 1726, M: 07713 073 023, E: lucy.grubb@plsa.co.uk

Babak Mayamey, PR Manager, Pensions and Lifetime Savings Association
T: 020 7601 1718, M: 07825 171 446, E: babak.mayamey@plsa.co.uk

Kathryn Mortimer, Press Officer, Pensions and Lifetime Savings Association
T: 020 7601 1748, M: 07901 007 713, E: kathryn.mortimer@plsa.co.uk