DB pensions: choking hazard

Document type
Report
Author(s)
Hitchens, Matt
Publisher
Intergenerational Foundation
Date of publication
1 June 2016
Subject(s)
Poverty Alleviation Welfare Benefits and Financial Inclusion, Older Adults
Collection
Social welfare
Material type
Reports

Download (766KB )

This report expresses concern about the high cost of defined-benefit (DB) pensions schemes and the burden which they place on UK private companies. The author contrasts the high level of payments with those made to defined contribution (DC) pension schemes, placing younger workers at a financial disadvantage. 

He includes recommendations from the Intergenerational Foundation and the Department of Work and Pensions for the adoption of fairer measures, including the abolition of deficit reduction payments. This would release funds to establish more equitable pension schemes for the employees of private companies. Other proposed changes include new tax rules covering DB pensions, and the appointment of at least one person under 30 to all pension trustee boards. 



Related to Poverty Alleviation Welfare Benefits and Financial Inclusion

Labour's proposed income tax rises for high-income individuals

Briefing note on Labour's proposed income tax rises

Should generations differ in their wealth accumulation

Working paper on wealth accumulation across the generations

Employees earnings since the great recession: the latest picture

Briefing note on changes in earnings over time

More items related to this subject