Improving Outcomes for Pension Savers and DB Schemes

This research article explores the potential for defined benefit (DB) pension schemes to improve outcomes for savers by investing in productive finance assets. It discusses key policy questions, the risk/reward trade-off, and proposes legislative changes to enhance the use of DB surpluses. The article argues against consolidation of larger schemes and emphasizes the need for a more balanced approach to investment risk, ultimately benefiting both pension members and the UK economy.