How DB pension schemes can support UK growth and protect members
How DB pension schemes can support UK growth and protect members
04 Sep 2023
Following on from the Chancellor’s 10 July Mansion House speech, the Government is calling for evidence on how DB schemes can invest more in productive assets for the benefit of both the UK economy and retirement outcomes for members.
XPS, Premier Miton and Burges Salmon have together set out a proposal on how, with an appropriate legislative blueprint, DB schemes can:
- be given the option to run on and safely generate surpluses, without being required to invest in riskier or illiquid assets,
- use those surpluses to increase DB members’ benefits, employees’ DC savings and capital investment in the employer’s UK operations, and
- in doing so, support the UK growth agenda without compromising security for members.
Our proposal is set out in our paper and is intended to support debate and discussion in this area.
To read our press release, click here.