Policy paper

Protecting defined benefit pension schemes

This paper explains how the government intends to increase the protections for defined benefit scheme members and make improvements to the system.

Documents

Protecting defined benefit pension schemes

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Diogelu Cynlluniau Buddion Wedi’u Diffinio (Welsh executive summary)

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Details

This paper sets out government plans to:

  • protect private pensions through a stronger Pensions Regulator
  • clarify scheme funding principles
  • create the right conditions for, and promote the benefits of, consolidation

This paper follows on from the consultation Defined benefit pension schemes: security and sustainability.

The paper also includes the government response to the British Steel Pension Scheme consultation in chapter 4.

A defined benefit pension is a promise made by the sponsoring employer to a scheme member that they will pay a predetermined level of pension, regardless of socio-economic factors.

Published 19 March 2018