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Hybrid pension plans: UK and international experience
— a report of research carried out by Hewitt Bacon & Woodrow on behalf of the Department for Work and Pensions | | Author(s) | Kevin Wesbroom, Tim Reay |
| Corporate Author | Hewitt Bacon & Woodrow; Department for Work and Pensions - DWP |
| Publisher | Corporate Document Services, Leeds, 2005 |
| Pages | 126 pp (Department for Work and Pensions Research report, no 271) |
| Source | Corporate Document Services, 7 Eastgate, Leeds LS2 7LY. Email: orderline@cds.co.uk Website: http://www.cds.co.uk Full reports also available online at: http://www.dwp.gov.uk/asd/asd5 |
| Keywords | Private pensions ; Conditions of employment ; Contracts ; Comparison ; International. |
| Annotation | The shift away from defined benefit pensions (DB) schemes towards defined contribution (DC) schemes is well known, as is the consequent transfer of pension risks, thought to to be largely with the plan sponsor in the case of DB, and in the case of DC largely with the plan holder or scheme member. In June 2004, the Department for Work and Pensions (DWP) commissioned three independent research projects into hybrid pension schemes, which this one defines as "private pension schemes which are neither pure DB nor DC arrangements, where pure DB arrangements are taken to mean final salary schemes". The authors look at the practical issues relating to hybrid pension plans in the UK, US, Switzerland, the Netherlands and Belgium. Their report assesses the driving factors in the changing landscape of employer pension provision, and the potential for future growth in the UK of hybrid or risk sharing pension schemes, such as career average, cash balance, sequential and combination DB and DC schemes, and the overall pension context within which schemes operate. The report reflects primarily the sponsoring company's viewpoint, but also includes that of other stakeholders, in order to assess the direction of future trends and to identify what might be sustainable and acceptable in the long term. (RH). |
| Accession Number | CPA-050906005 B |
| Classmark | JK: WKA: 6QH: 48: 72 |
Data © Centre for Policy on Ageing |
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| ...from the Ageinfo database published by Centre for Policy on Ageing. |
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