The Pensions and Lifetime Savings Association (PLSA) has found that pension professionals strongly support DB consolidation — as long as they can be confident that member outcomes would be improved by the process.
In a poll conducted at the PLSA Annual Conference & Exhibition on 16 October, the organisation discovered that 89 per cent of pension professionals said they would consider consolidating a single employer DB scheme into a DB master trust or DB superfund, if they could be confident that scheme members would have the same, or a better chance of receiving their accrued benefits.
At the same time, eight out of 10 delegates questioned about the DB universe at the conference thought that the number of DB schemes would fall from 5,500 today to below 4,000 in 10 years’ time, with nearly half (48 per cent) predicting that there could be fewer than 3,000 schemes within the next decade.
Written by By Marek Handzel – read more through the link above.