Economic conditions and increasing longevity have put defined benefit (DB) pension schemes under pressure. The PLSA is committed to working with the Government and regulators to ensure a sensible regulatory environment for DB schemes that can help ensure the sustainability of open DB schemes and help closed DB schemes run off more efficiently and ultimately secure member benefits.
We continue to represent the pensions industry regarding the Pensions Regulator's proposals for a reform of the funding regime for DB pensions, seeking to ensure the DB Funding Code adopts a flexible approach to DB schemes that are open to new accrual.
If you would like to get in touch regarding our work in this area, please contact [email protected]