Defined benefit payouts will peak this year before tailing off as the impact of scheme closures is felt, says the Department for Work and Pensions.
Analysis from the department suggests average annual payouts will hit £7,100 this year, before dropping below £4,000 in 2034 and will be down to £2,400 by 2060. Pensions minister Steve Webb said...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership for 12 months, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here
