Pensions minister Steve Webb has said the government will revisit the issue of risk-sharing as part of its drive to reinvigorate occupational pensions.
Webb said the Department for Work and Pensions (DWP) would encourage the development of models which would relieve individual pension scheme members of some investment risk. "Some people say that pendulums do not stop in the middle but once we have gone from the defined benefit (DB) extreme, where the employer shoulders all the risk, to the defined contribution (DC) extreme where it is all borne by the member, hopefully we can push it back a little bit," Webb told the Lane, Clark and Peacock (LCP) Pensions Conference yesterday. The minister said this would form part of the government'...
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