Options for Defined Benefit schemes
This is a consultation on aspects of private sector Defined Benefit schemes, which seeks stakeholder feedback for the future pensions market.
The aim of this consultation is to introduce reforms to the private sector Defined Benefit pensions system that jointly benefit scheme members, sponsoring employers and the wider economy.
Although pension schemes are in surplus, under current legislation it is difficult and costly for many scheme trustees to share this upside with employers and scheme members. This consultation proposes a number of new measures intended to balance enhanced options for trustees with prioritising the security of member benefits.
This consultation is being conducted in line with the revised Cabinet Office consultation principles published in March 2018.