Is Webb's 'defined ambition' the solution to the savings crisis?

Pensions minister Steve Webb’s latest call to arms to halt the decline of UK pension saving is the idea of creating ‘defined ambition’ schemes. The Liberal Democrat coalition minister wants to better balance the burden of risk involved with workplace pension saving – and stop the shift from one extreme to the other. Middle ground The case for a middle ground between defined benefit (DB) pensions, where the employer takes all the investment risk, and defined contribution (DC) – where the worker shoulders the burden – has been trumpeted by various sectors of the pensions industry for ...