The green paper Security and Sustainability in Defined Benefit Pension Schemes (Green Paper) was published by the Department for Work and Pensions (DWP) on 20 February 2017. It explains how the current defined benefit (DB) pension system operates and outlines the current regulation mechanism. It seeks to address concerns surrounding recent high-profile DB cases and a range of issues raised by industry commentators lobbying for change. The DWP’s key aim is to investigate the strength and flexibility of the current pension system, the nature and size of potential risks to DB pension schemes and the sustainability of the burden of costs falling to sponsoring employers. Responses to the consultation are requested by May 14, 2017. In this briefing, we identify some of the Green Paper’s key areas of focus. Click here for more.
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