Professional Pensions Breakfast Briefing, in partnership with TPT Retirement Solutions
The Future of DB Pension Consolidation
Consolidation was a central theme within the government's white paper, Protecting Defined Benefit Pension Schemes, which was published in March this year.
The government says that, on average, small- and medium- sized schemes are more likely to have higher administrative costs and are more likely to fail to meet the governance standards expected by the Pensions Regulator. It argues that consolidation could help schemes benefit from reduced scheme running costs per member and improve the effectiveness of both investment strategies and governance.
As such the government is looking to consult on a range of proposals to boost DB scheme consolidation including the introduction of a new accreditation regime and legislative framework.
This breakfast briefing will look at the benefits of DB scheme consolidation, how it can be achieved in practice and the key considerations for trustees and sponsors consider such a move.