pensioner with bill Excessive regulation risks killing off the last private sector final salary pension schemes, MPs have warned.
The Work and Pensions Committee said so-called defined benefit (DB) schemes could help to boost the UK economy but faced being “finished off” by red tape and regulation, even as higher interest rates have dramatically improved funding levels.
There are just 700,000 members of active private sector DB schemes across the UK, which offer savers a guaranteed income on retirement. Most employees now save into defined contribution (DC) schemes, where returns are based on stock market returns.“Two decades of regulatory policy caution […]
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