The current defined benefit (DB) pensions landscape is unsustainable and unaffordable, regardless of the views presented in the government's latest green paper, former pension minister Ros Altmann has warned.
In her response to the government's DB pension consultation Altmann (pictured) said affordability was a major obstacle to a workable DB environment in the UK. She contradicted the paper's claims there was no affordability problem for employers offering DB pensions. The Department for Work and Pensions (DWP) consultation on security and sustainability of DB pension schemes ended on 14 May. It set out to explore the key challenges facing DB schemes, including affordability of the schemes. The paper concluded: "We are not persuaded that there is a general ‘affordability' problem for t...
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