Defined Ambition

Shadow pensions minister Gregg McClymont has challenged pensions minister Steve Webb over his defined ambition (DA) proposals in light of the government's defined contribution (DC) reforms.

Government proposals to scrap restrictions on pensions access could lead to a further wave of employers closing defined benefit (DB) plans to future accrual.

Government proposals to scrap restrictions on pensions access will pave the way for collective defined contribution (CDC) schemes, Barnett Waddingham says.

Progress on the annuities market, charges and defined ambition (DA) may have "stalled", the Work and Pensions Select Committee says.

Meaningful guarantees for defined contribution (DC) members are prohibitively costly, driving down demand, according to Hymans Robertson investment consultant Mark Jaffray.

Legislation to establish the necessary changes for defined ambition (DA) is expected to reach Parliament in 2015.

Naomi Rainey asks how much the minister can achieve before May 2015

The Association of Consulting Actuaries (ACA) has urged the government to prioritise the development of flexible defined benefit (DB) models ahead of other defined ambition (DA) proposals.

The government must not "lose sight" of improving defined contribution (DC) pensions as the Department for Work and Pensions (DWP) develops its defined ambition (DA) project, industry figures warn.

Allowing defined contribution (DC) members to buy pensions in defined benefit (DB) sections can significantly drive up liabilities, HSBC Bank Pension Trust chief executive Lesley Alexander warns.