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SpanishDB or not DB, what is the solution?
By Mark Daniel
Mark Daniel takes us on a pensions journey, exploring various DB and DC plan designs and how these can help manage costs and possible risks.
What a difference two years make.
Boris Johnson is now the Prime Minister, Liverpool finally became Premier League Champions and, sadly (for me), Huddersfield Town are back down in football’s second tier.
And then there is COVID-19. Who could have predicted any of the above? Admittedly, you didn’t need a crystal ball to foresee Huddersfield’s struggles against the English footballing elite, but I am forever the optimist. Translate that to the world of UK pensions.
Whilst we remain in an industry which is synonymous with perpetual change, few may have predicted the scale of some of the developments we’ve seen in the last two years: proposals that could lead to a more prescriptive funding regime, the likely demise of the RPI, the rise of the superfund, the consolidation of smaller defined contribution (DC) schemes and the continual tinkering with the taxation of pensions, to name but a few.
And whilst I’m not a betting man, I’d be pretty confident in saying that more change is on its way. Take defined benefit (DB) provision as a great example.
Source: willis Towers Watson
