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MyCompanyPension.co.uk - Helping members of occupational pension schemes to better understand their benefits.
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:: Blog | June 2008 (3 blogs) | DWP Pension Consultation
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DWP Consultation - are defined benefit pensions better?
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The Department for Work and Pensions (DWP) released its latest pension consultation document yesterday, all 110 pages of it. There are some very interesting statistics if you get the chance to browse through (we’ve put a link to the full report below). I’d just like to share with you what is said in paragraph 2.13 on page 20:
"The shift from defined benefit to defined contribution has led to a focus on the question of which form of provision is better. It is important to note that in economic terms, one is not better that the other – each has different advantages and disadvantages; and each distributes risk in a different way."
Great. There’s nothing like stating the obvious then! And whilst this is technically correct, I have no doubt as to which type of scheme the general public would prefer, do you? See:
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Mike Jones, MyCompanyPension.co.uk, 6th June 2008
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