The Confederation of British Industry has called for a shift to a ‘notional defined contribution' model - effectively pay-as-you-go DC - to tackle the £1trn unfunded public sector pensions deficit.
The business lobbying organisation's said an independent commission should investigate the costs of taxpayer funded benefits and establish the principles for reform. And the CBI's final report on pensions...
More needs to be done to speed up DB to DC transfers but, as Jonathan Stapleton says, more also needs to be done to protect members.
The Pensions Ombudsman (TPO) took on 2,566 early resolution cases in 2018/19 after onboarding a team from The Pensions Advisory Service (TPAS), according to its annual report and accounts.
The lifeboat fund is in a good position despite reserves taking a £0.6bn hit. But the ramifications of the EU judgment on member compensation is an area of concern for CEO Oliver Morley, writes Stephanie Baxter