working pension schemes

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working pension schemes

Post by Admin on Tue May 16, 2017 10:23 am

weve all seen the british home stores pension funds, heres something for you to read

The UK’s pension scheme trade body has disputed a government assertion that there is no affordability crisis in the country’s defined benefit (DB) sector. The Pensions and Lifetime Savings Association (PLSA) was responding to a wide-ranging consultation about the future of DB pension provision, issued by the Department for Work and Pensions (DWP) earlier this year. The deadline for responses was 14 May. The DWP said in February: “The available evidence does not appear to support the view that these pensions are generally ‘unaffordable’ for employers. While DB pensions are more expensive than they were when they were originally set up, many employers could clear their pension deficit if required.” wrote:

However, the PLSA argued in its response – published this morning – that two groups of schemes deemed to have the weakest sponsor covenants had only a 50% chance of reaching fully funded status in the next 30 years. The weakest group had only a 32% chance. These schemes accounted for three million members, the PLSA said. wrote:

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