UK - Companies have shown interest in collective defined contribution (CDC) schemes or said the government should change pensions legislation to accommodate such schemes, a survey conducted by Hewitt has revealed.
Although such a scheme would be classed as a defined contribution scheme, the benefits would be targeted to give members a pension plan resembling a defined benefit scheme.
Richard Mulcahy, principal consultant, Hewitt, said: "If employers are to continue to provide occupational pension schemes, they need the financial certainty that a defined contribution scheme offers.
"However, employees are ill-equipped to take on the risk and responsibilities of such schemes.
"Providing targeted defined benefits from within a defined contribution wrapper is, therefore, a logical compromise between these two conflicting realities - and it's this which makes a CDC scheme potentially attractive."
The DWP is currently consulting on the deregulation of pension schemes and has asked for views on the idea of CDC schemes as a means of encouraging occupational pension provision.
The DWP has asked to receive responses by 28 August.
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.