Friday, 27 July 2007

Pensions de-regulation review

This week the DWP published the response of the pensions deregulation review chaired by Ed Sweeney (ex-GS of Unifi, and ex-DGS of Amicus) and Chris Lewin (former head of pensions at Unilever). You can download the doc at the DWP website here. I don't intend on writing about it, but if anyone feels like doing a summary let me know and I will bung it up. The TUC statement suggests that they think they have defused the threat to accrured rights.

One thing I did notice is that there is no statement on the move to 50/50 trustees, on which the review had sought views. In this case no news might be good news. More broadly I would actually not be opposed to a bit of deregulation if it meant we could persuade more employers in the private sector to hang onto DB schemes. But I fear that realistically that may be shutting the stable door after the horse has bolted.

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