22 December 2016

  |  CBI Press Team

News

Defined Benefit pensions in increasingly challenging environment

The CBI responded to a report published by the Work and Pensions Committee.

Defined Benefit pensions in increasingly challenging environment

Neil Carberry, CBI Director for People and Skills policy:

“While many firms running Defined Benefit pension schemes work in an increasingly challenging funding environment, the regulatory system, has on the whole, operated effectively.

“Targeted proposals around new powers for the Pensions Regulator should be explored where a case can be made for change, but businesses would be concerned about sweeping changes, such as mandatory clearance or to the successful approach of the Pensions Protection Fund.

“Any future changes to the UK pensions’ system must be evidence-based and recognise that the best security for any scheme is a successful sponsoring employer.”