Research and analysis

Defined Ambition pensions: summary of evidence

This research brings together new and existing material about a new category of risk sharing pensions called Defined Ambition.

Documents

Defined ambition: consumer evidence summary

Request an accessible format.
If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email accessible.formats@dwp.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

Details

Defined Ambition (DA) is a new category of risk sharing pensions that we want to introduce alongside existing Defined Benefit (DB) and Defined Contribution (DC) pensions. It is part of our plans to radically transform UK pensions. We want to encourage risk sharing to provide:

  • more certainty and stability in pensions for individuals than DC pension schemes
  • less variation in costs for employers than DB pension schemes

This report brings together a range of existing and new material relevant to the aims and objectives of DA.

It explores what demand there may be for different types of risk sharing pensions and for different types of guarantees in pension schemes. It does not include detailed explanations of how DA pensions may work in practice.

We have also commissioned independent research about consumers’ views of Defined Ambition pensions.

Reshaping workplace pensions for future generations’ consultation

We considered these research findings in our response to the consultation about reshaping workplace pensions for future generations.

Updates to this page

Published 26 June 2014

Sign up for emails or print this page