DWP publishes DB scheme surplus payments draft legislation

Commenting on the draft legislation on DB scheme surplus payments to members, Leonard Bowman, Head of Corporate, Hymans Robertson, says:

“The government’s direction of travel on DB surplus is encouraging. Allowing members to benefit directly from DB scheme surpluses is a logical next step in the government's wider programme of surplus reform. It recognises that well-funded schemes can create value for multiple stakeholders while continuing to provide strong protection for accrued benefits. We welcome the consultation's focus on safeguards and its intention to provide greater flexibility without compromising members' security.”

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