Final salaries are in government's hands

Many final salary and other defined benefit pension schemes would support less government intervention and deregulation, the results of a new survey show.

A study conducted by the National Association of Pension Funds (NAPF) found that when asked what the government could do to help them, some 44 per cent of pension schemes want deregulation and 13 per cent would like less intervention from the government.

"The survey shows that the best way to sustain good defined benefit pensions is to allow employers greater flexibility," said Nigel Peaple, NAPF’s director of policy.

He continued: "The pensions deregulation review currently being considered by the government, gives it the opportunity to sustain Britain’s defined benefit pension schemes"

"It is vital for both pension schemes and their members that they take the bold measures needed."

Some 10 million British workers are currently in NAPF member schemes and 5 million pensioners receive retirement income from them.