The defined benefit (DB) regulatory framework is too rigid and needs to be made adaptable to ensure scheme sustainability, according to the Pensions and Lifetime Savings Association (PLSA).
In its DB taskforce's interim report, the industry body also called for scheme consolidation, and for better measures of the risk to benefits to be developed. At the PLSA's annual conference in Liverpool...
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.