Granting employers the authority to change schemes to mitigate the cost of ending contracting out will be a "very careful balancing act", the National Association of Pension Funds says.
The provision, which is part of the move towards a single tier state pension, will allow employers to implement scheme changes without trustees' agreement in order to balance out costs incurred when contracting...
The Pensions and Lifetime Savings Association (PLSA) has announced it will shrink its board by more than one-third as part of a governance overhaul to make it "agile and more appropriate".
Smaller FTSE 350 defined benefit (DB) schemes were nearly 15 percentage points less well-funded than larger schemes in 2017, according to a Goldman Sachs Asset Management (GSAM) analysis.
The advent of collective pension systems could help the UK avoid demographic challenges which will make it "impossible" for society to help savers in retirement, experts say.