The future of pension provision – defined ambition

The Government has published a consultation paper giving more detail about its proposals for defined ambition pension schemes.  There is a recognition that traditional DB schemes are in severe decline but that if DC schemes become the default for pension provision, many people will have an uncertain level of income in retirement.  The Government has been seeking alternative modes of pension provision which will share risk between employers and members whilst providing members with greater security than pure DC arrangements.  It is also trying to develop a regulatory regime which will encourage the development of such schemes.   Read More >