DWP DB surplus extraction consultation

Commenting on the DWP consultation on DB surplus extraction published today, Laura McLaren, Head of DB Actuarial Consulting, Hymans Robertson, said:

“We’re pleased the Government has supported our call to link conditions for surplus extraction to scheme funding level and security of accrued rights. We also welcome the proposal that extracting surplus will not be conditional on use of funds for particular purposes. Surplus extraction will be more effective where it is part of a larger reframing of the statutory objective for DB, to bring about a DB renaissance and secure future pension provision.”