DC consolidation could stifle innovation, industry warns

The industry is supportive of improving member outcomes but called for tailored approach to DC

Holly Roach
clock • 6 min read
The DWP's consultation closed yesterday
Image:

The DWP's consultation closed yesterday

The pensions industry has warned that while it is supportive of the government’s goals to improve member outcomes, the government must “defer” defined contribution (DC) scheme consolidation for now.

In response to the Department for Work and Pensions' (DWP) consultation on the future of the DC pension market: the case for greater consolidation - which closed yesterday (29 July) - the industry said...

To continue reading this article...

Join Professional Pensions

  • Unlimited access to real-time news, analysis and opinion from the industry
  • Receive our in-depth monthly magazine in either print or digital format
  • Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
  • Receive important and breaking news stories selected by the Editors in our daily newsletter
  • Hear from industry experts and other forward-thinking leaders
  • Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date

Join now

 

Already a Professional Pensions member?

Login

More on Risk Reduction

Just completes largest ever deal in £345m buy-in

Just completes largest ever deal in £345m buy-in

Deferred-heavy deal completed at the end of 2021 in midst of ‘intense market’ conditions

James Phillips
clock 21 January 2022 • 1 min read
PIC and IMI agree fifth buy-in in £250m deal

PIC and IMI agree fifth buy-in in £250m deal

Around 1,200 members were covered by the deal, with 80% of scheme now insured

James Phillips
clock 21 January 2022 • 2 min read
Pensions de-risking deals set to hit record £65bn this year

Pensions de-risking deals set to hit record £65bn this year

Despite subdued market 2021 also expected to be third busiest year after H2 stampede

James Phillips
clock 20 January 2022 • 2 min read
Trustpilot