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For much of the twentieth century, private or workplace pensions meant defined benefit.
Making workplace pensions work and protecting savers is at the heart of what we do.
Here at TPR, when we are regulating DB schemes, we have to pull off a complicated balancing act. Parliament has given us a mandate to protect pension savers and the PPF.
In assessing the events of 2017/18, I’m reminded not just of the work of industry and TPR colleagues but of the excellence and the dedication my colleagues at the Pension Protection Fund (PPF) provide.
If you only had newspaper headlines to go on, you might be forgiven for thinking that private sector defined benefit (DB) pension schemes are about to reach the end of the road.