DB IN FOCUS
Defined benefit (DB) pensions schemes are facing unprecedented challenges. Increased longevity, difficult market conditions and a tough regulatory environment are all contributing factors.
In response to these challenges, many DB schemes have closed over the last decade. The Pensions and Lifetime Savings Association argue that DB provision needs to be supported to prevent decline from posing a threat to the security of members’ pension provision and the role that DB pension schemes play in UK investment.
The Pensions and Lifetime Savings Association also has many local government members, which include many of the funds that make up the Local Government Pension Scheme.