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The Work and Pensions Select Committee (WPSC) published the response by the Department for Work and Pensions (DWP) to their report on defined benefit pension schemes. |
In response, a PPF spokesperson said: “We welcome the government’s response to the Work and Pensions Select Committee’s important report last year on defined benefit pension schemes. We warmly welcome DWP’s intent to make the changes we need on levy, and fresh consideration of our compensation framework, particularly pre-97 indexation, noting the challenges identified. These are top priorities for us, as we set out recently in our Strategy for the next three years. "We welcome the active engagement with colleagues in government and will continue to work constructively with them to progress these issues with urgency, reflecting the strength of feedback from members, levy payers and industry bodies for change. "We additionally welcome the government’s recognition of the role the PPF could play delivering DB consolidation – we will continue to engage and support government in their consideration of this.”
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