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Pensions Management Institute fears defined benefit schemes could be sidelined

The Pensions Management Institute fears the proposed tax changes to pensions will marginalise defined benefit schemes.

It is warning that unless concurrent membership is allowed, the proposed tax changes will erect a barrier between stakeholder pensions and DB schemes.

To overcome this, the PMI says a way must be found to let members of defined contribution and DB schemes also contribute to a stakeholder arrangement.

PMI vice president Ian Eggleden says: “There is a danger that DB schemes will be seen as less flexible and not as desirable as DC arrangements.”


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