Policy paper

Protecting defined benefit pension schemes

This paper explains how the government intends to increase the protections for defined benefit scheme members and make improvements to the system.

• From: Department for Work and Pensions
• Published: 19 March 2018

This was published under the 2016 to 2019 May Conservative government

Documents

Protecting defined benefit pension schemes

Ref: ISBN 978-1-5286-0250-1 , CCS0318188160 03/18, Cm. 9591

PDF, 4.1 MB, 76 pages

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Protecting defined benefit pension schemes (print-ready PDF)

PDF, 1.6 MB, 80 pages

Diogelu Cynlluniau Buddion Wedi’u Diffinio (Welsh executive summary)

PDF, 125 KB, 7 pages

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Details

This paper sets out government plans to:

• protect private pensions through a stronger Pensions Regulator
• clarify scheme funding principles
• create the right conditions for, and promote the benefits of, consolidation

This paper follows on from the consultation Defined benefit pension schemes: security and sustainability.

The paper also includes the government response to the British Steel Pension Scheme consultation in chapter 4.

A defined benefit pension is a promise made by the sponsoring employer to a scheme member that they will pay a predetermined level of pension, regardless of socio-economic factors.

Consultation

We published a consultation on protecting defined benefit pension schemes – a stronger Pensions Regulator on 26 June 2018.

Published 19 March 2018