If you want stereo definition of what has just happened, this blog offers it.
Here are two of my favorite consultants (who clearly like each other) , explaining the momentous events happening to pensions. I know this is not about DC saving but it is where change is starting and DC pensions are bound to follow.
So let’s read their takes on recent events. Calum is from Hymans Robertson and Scotland!
What a day for the future of DB pensions. 
The government published its response to the Options for DB consultation. Top headlines:
1. Barriers for surplus sharing will be removed, while maintaining safeguards to protect members. A statutory resolution power for trustees will be introduced to modify their scheme rules.
2. On when trustees can share surplus – the government is “minded to amend the threshold from the current buyout threshold to a threshold set at full funding on the low dependency funding basis”.
In combination, this could gradually release £400bn of productive capital as Sachin Patel outlines on page 14-15 of Untapped Pensions https://lnkd.in/e-iiNkjr
There is plenty of detail to be worked through but this is a watershed moment for DB pensions schemes.Always risky to look back… at a wish list below…. but it looks like the essential elements have been granted! Kudos on that to the many conversations with awesome, forward thinking people in the industry, and to the listeners who make change happen.
John Hamilton Henry Tapper John Quinlivan Steve Hodder Gurbani Swanni Leach William McGrath Leonard Bowman Laura McLaren Ben Fox FIA Graham Jones Terri Garratt David Willetts Elaine Torry Ben Farmer Ian MacRae Kate Yates Peter Cameron Brown
If you don’t get the momentum , then here’s Steve Hodder of LCP and England to give his take on the same paper.
