Recent developments at Lloyds Banking Group (LBG) demonstrate the "two futures" of DB provision that could be solved with defined ambition (DA) proposals, pensions minister Steve Webb says.
Last week, LBG confirmed staff transferring to TSB when it is sold in 2014 will not be provided access to a DB scheme. Employees will instead receive a "compensation" cash payment of 27.5% of annua...
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