Skip to main content
The Actuary: The magazine of the Institute and Faculty of Actuaries - return to the homepage Logo of The Actuary website
  • Search
  • Visit The Actuary Magazine on Facebook
  • Visit The Actuary Magazine on LinkedIn
  • Visit @TheActuaryMag on Twitter
Visit the website of the Institute and Faculty of Actuaries Logo of the Institute and Faculty of Actuaries

Main navigation

  • News
  • Features
    • General Features
    • Interviews
    • Students
    • Opinion
  • Topics
  • Knowledge
    • Business Skills
    • Careers
    • Events
    • Predictions by The Actuary
    • Whitepapers
    • Moody's - Climate Risk Insurers series
    • Webinars
    • Podcasts
  • Jobs
  • IFoA
    • CEO Comment
    • IFoA News
    • People & Social News
    • President Comment
  • Archive
Quick links:
  • Home
  • The Actuary Issues
  • March 2016
03

PLSA launches DB taskforce

Open-access content Thursday 10th March 2016 — updated 5.50pm, Wednesday 29th April 2020

A taskforce to tackle the problems faced by defined benefit (DB) pension schemes is launched today by the Pensions and Lifetime Savings Association (PLSA).

2


The group is seeking views and evidence from schemes of all sizes, as well as sponsors, regulators, government and intermediaries to address the issues affecting DB schemes such as funding and regulatory challenges.

The taskforce will be chaired by Ashok Gupta, former deputy chair of the Bank of England's Procyclicality Working Group, and supported by industry experts and academia. 

Gupta said: "There is broad consensus that the pensions sector should provide long-term sustainable outcomes for members and act as a powerful engine of growth to the economy. 

"It is clear however, that for some time pension schemes have been grappling with a wide range of challenges, including scheme funding, changing regulatory requirements, and an uncertain macro-economy. These have hampered their ability to deliver this commonly agreed principle.

"The taskforce, which I am delighted to chair, will consider these issues in depth, and seek solutions that enable UK schemes to cut through the Gordian knot that we face today."

The group intends to report its initial findings in the summer and then at the PLSA annual conference in October to announce recommendations to the government to ensure DB pensions are sustainable in the long run.

Joanne Segars, chief executive at the PLSA, said the difficulties facing DB schemes "aren't going away any time soon". 

"The issue cannot be ignored because there are around 16 million people in DB schemes and the health of those schemes can also have a material effect on employers, government and the wider economy," she added.

This article appeared in our March 2016 issue of The Actuary.
Click here to view this issue
Filed in
03
Topics
Pensions

You might also like...

Share
  • Twitter
  • Facebook
  • Linked in
  • Mail
  • Print

Latest Jobs

Catastrophe Modelling Analyst - London Market Broker

London, England
£40000 - £50000 per annum
Reference
145925

Senior Catastrophe Analyst

England, London
£65000 - £75000 per annum
Reference
145924

Life Actuary - Financial Reporting - Day Rate contract

Negotiable
Reference
145923
See all jobs »
 
 

Today's top reads

 
 

Sign up to our newsletter

News, jobs and updates

Sign up

Subscribe to The Actuary

Receive the print edition straight to your door

Subscribe
Spread-iPad-slantB-june.png

Topics

  • Data Science
  • Investment
  • Risk & ERM
  • Pensions
  • Environment
  • Soft skills
  • General Insurance
  • Regulation Standards
  • Health care
  • Technology
  • Reinsurance
  • Global
  • Life insurance
​
FOLLOW US
The Actuary on LinkedIn
@TheActuaryMag on Twitter
Facebook: The Actuary Magazine
CONTACT US
The Actuary
Tel: (+44) 020 7880 6200
​

IFoA

About IFoA
Become an actuary
IFoA Events
About membership

Information

Privacy Policy
Terms & Conditions
Cookie Policy
Think Green

Get in touch

Contact us
Advertise with us
Subscribe to The Actuary Magazine
Contribute

The Actuary Jobs

Actuarial job search
Pensions jobs
General insurance jobs
Solvency II jobs

© 2023 The Actuary. The Actuary is published on behalf of the Institute and Faculty of Actuaries by Redactive Publishing Limited. All rights reserved. Reproduction of any part is not allowed without written permission.

Redactive Media Group Ltd, 71-75 Shelton Street, London WC2H 9JQ