Former pensions minister Baroness Ros Altmann says a PLSA call for smaller DB pension schemes to be merged into ‘superfunds’ to cut costs and improve returns is a “win-win” for employers and the schemes.

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The FCA is planning to update the methodology used to calculate redress owed to consumers given unsuitable advice to transfer out of a defined benefit pension scheme.

The Department for Work and Pensions has launched a Green Paper to consult on significant proposed changes to workplace Defined Benefit pensions which cover 11m people.