Money purchase consultation: An open letter to Steve Webb

Linklaters' Tim Cox says the minister must wake up to problems in the Pensions Act 2011

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Pension schemes face formidable challenges in planning for the future. They stand little chance of success if they cannot trust Parliament not to rewrite the past.

In spite of this, the Pensions Act 2011 allows for one of the most fundamental concepts of UK pensions law - that of a "money purchase benefit" - to be redefined for events that happened 17 years a...

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