contracting out

The government's response to the National Employment Savings Trust (NEST) restrictions is likely to be addressed in the passage of the Pensions Bill.

Using statutory override to change scheme terms at the end of contracting out will be limited to offsetting employers' National Insurance bills, the government has clarified in the Pensions Bill.

Economic secretary to the Treasury Sajid Javid has denied that bringing forward the end of contracting out by one year was motivated by the expected £5bn boost to the Exchequer.

It would seem most contributors still think there is life left in defined ambition. But sadly a closer inspection of responses reveals that many who said the accelerated ending of contracting out had not killed DA thought this was because the idea was...

Axa is reviewing the viability of maintaining its defined benefit scheme due to an increasing deficit and the additional costs associated with the end of contracting out.

Rachel Dalton analyses the ending of contracting out

Pensions minister Steve Webb has said the abolition of contracting out, brought forward to 2016, does not mean defined ambition proposals must be finished earlier.

The industry has called on pensions minister Steve Webb to publish guidance on defined ambition schemes as the abolition of contracting out has been moved from 2017 to 2016.

The Chancellor's plans to bring forward the implementation of the single tier state pension from 2017 to 2016 will accelerate the decline of defined benefit schemes, experts warn.

The GMB has branded claims public sector pension schemes will cost the taxpayer an extra £9bn as "completely bonkers".