Actuaries call on Govt to remove indexed schemes ban

The association says the Government should remove a ban on the schemes in an amendment to the Pensions Bill, due for its second reading next Monday. The ACA says the move would give employers improved certainty over long-term costs and give employees a more stable platform for their retirement income than through money purchase schemes. It adds it would encourage employers to offer better schemes than personal accounts. The comments follow research by the ACA which shows four out of five defined benefit (DB) pension schemes have closed to new entrants, compared to seven out of 10 three...