Ill-defined benefit

Pension reforms threaten to discourage and disincentivise the future provision of defined benefit pensions

Last week I wrote an open letter to members of the Government and the Opposition, warning them of the unintended consequences that could arise from implementing the measures in the current Pensions Bill. Within the National Association of Pension Funds (NAPF), there is a concern about the effect current changes to the regulatory regime are likely to have on the future provision of any form of defined benefit (DB) pension. Our view is that current changes to the regime, all well intended in their own right, risk the perverse consequence of discouraging and disincentivising any form of fut...