UK. Budget 2018: Dutch-style pensions revolution could see thousands of workers pool retirement pots
Tens of thousands of workers will be able to pool their retirement pots under a pensions revolution expected to be outlined in the Budget.
Philip Hammond is expected to announce a consultation on Dutch-style pension schemes – known as “peoples’ pensions” – which will thousands of members pay into a single pot.
The approach is seen as a “middle way” between gold-plated final salary schemes, which guarantee income in retirement but can leave companies with huge deficits, and defined contribution schemes under which workers shoulder the risk of shortfalls.
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