Defined benefit pension schemes: Work and Pensions Committee holds first oral evidence session of inquiry
The Work and Pensions Committee hears from academics and pension policy experts in the first oral evidence session of the inquiry into defined benefit pension (DB) schemes.
Meeting details
The inquiry is examining whether the right regulatory regime is in place for DB schemes to thrive, how well-funded schemes are and the role of the Pensions Regulator (TPR).
The first panel, featuring former Pensions Minister Sir Steve Webb and other pension experts, will look at the future role of DB pension schemes and how they should be funded. The witnesses could also be asked about buy-outs of schemes and what their long-term objectives should be.
The second panel will focus on open schemes, with witnesses including Martin Hunter from the Railway Pension Trustee Company Ltd (and its subsidiary, Railpen). The Committee will explore the differences between open and closed schemes, how pension scheme funding is changing, and TPR’s objectives and approach to scheme funding.