Proposals put forward in a consultation paper on the rolling deregulatory review of defined benefit pensions could see pensioners income fall by around 30% in the next 10 years, warns Standard Life.
The initial 47-page document published by former pensions manager at Unilever Chris Lewin and joint deputy general secretary of Amicus Ed Sweeney - the two external reviewers appointed to the review board in December - outlines “some options for possible changes in the DWP’s regulatory framework for occupational pensions”. In the regulatory consultation which closes on 6 April 2007, Lewin and Sweeney outline proposals put forward by the industry in the initial consultation stage, the main idea being to adjust the regulatory framework to allow for the creation of more risk-sharing schemes....
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
