Brightwell comments on pension scheme surplus speculation
On Sunday 26 January, Sky News reported that the government is set to announce plans to unlock tens of billions of pounds from corporate pension schemes.
Commenting on the speculation, Morten Nilsson, CEO, Brightwell said: “UK defined benefit pension schemes hold around £1.2 trillion of assets and many are sitting on healthy surpluses.
“In most cases, companies can’t access any of the surplus which sits in their pension schemes until the scheme is wound up.
“We would welcome the government including legislation in the Pension Schemes Bill to make it easier for strong employers, with well-managed pension schemes, to access scheme surplus subject to appropriate permissions and safeguards.
“This reform has the potential to fundamentally change the way employers view their defined benefit pension schemes, transforming them from liabilities to offload, into valuable assets worth running on for the longer term.
“To be successful, clear guidance for Trustees would be needed to define who decides whether a payment is made, when it’s made, and the size.
“Done carefully, we believe that these changes would not only benefit employers and members but also support the UK economy.”
Published:
27 / 01 / 2025
