The Pensions and Lifetime Savings Association (PLSA) has advocated a "full merger" of defined benefit (DB) schemes which splits employers from their burgeoning obligations.
The suggestion was made in the second report from the association's DB taskforce, The Case for Consolidation, which follows its interim report last October which said the DB system was too fragmented....
This week's top stories included the Department for Work and Pensions issuing two separate consultations on the pensions dashboard and defined benefit consolidation.
A regime similar to that for defined contribution (DC) master trusts will be set up for regulating defined benefit (DB) consolidators under plans announced today.
Defined benefit (DB) superfunds that wish to enter the market must talk to The Pensions Regulator (TPR) about their plans before opening for business.