DWP undecided on DB schemes contracting-out

The white paper on pensions reform highlights the fact the Pensions Commission concluded contracting-out of DB schemes should not be abolished in the same way as defined contribution (DC) schemes, but should be phased out by 2030 when the State Second Pension (S2P) becomes flat rate. It adds: “However, we do not intend, at this stage, to bring forward additional proposals to abolish DB contracting-out in the longer term. Instead, the long-term future of contracting-out for all DB schemes will be subject to ongoing review as part of the evaluation of the overall reform package.” An outri...