Brightwell comments on government plans to make access to defined benefit pension scheme surplus easier
Today (28 January) the government announced that it will introduce new legislation to make it easier for employers to access surplus within their defined benefit (DB) pension schemes.
Commenting on the announcement, Morten Nilsson, CEO, Brightwell said: “Current legislation has employers wholly owning the downside of their DB pension schemes but gives no access to the upside.
“This reform could fundamentally change the way some employers view their DB pension schemes, turning them into valuable assets to nurture.
“Industry wide, we could see increasing numbers of employers opting to run-on their DB pension schemes for the long-term.
“Having mutual agreement on any surplus release between trustee and employer is key, enabling them to work together to deliver good outcomes.
“Done carefully, we believe these changes will benefit employers and members and also support the UK economy.”
Published:
28 / 01 / 2025
