DWP Warns UK Households Close to Retirement Will Be 'Worse Off' - Birmingham Live

DWP warns UK households close to retirement will be 'worse off' - Birmingham Live

The impact assessment revealed that the government’s plan to allow surplus extraction from defined benefit (DB) pension funds puts schemes at risk

Extracting cash from DB schemes could create under-funding, says assessment - portfolio institutional

Government plans to allow companies to extract cash from defined benefit (DB) pension schemes could put schemes at risk of under-funding and increase the chances of members not getting their full pension, an official government document has revealed. Ministers last week published the Pension Schemes Bill, which creates new rules allowing employers to remove ‘surplus’ cash from pension schemes set up to support their retired workers. An official …

DWP’s Impact Assessment says DB reforms put members’ pensions at risk

Accessing surplus may improve employer’s financial position, but may risk pension scheme becoming underfunded, says Pension Security Alliance