Minister urges companies to offer 'defined ambition' pensions
Steve Webb will push for adoption of Dutch-style schemes that
aim to offer more assurance than 'defined contribution' pensions
about size of retirement payouts   • The Observer,   • Jump to
comments () Pensions minister Steve Webb Pensions minister Steve
Webb: ‘I would rather know roughly what I was going to get than
have no idea what I was going to get.’ Photograph: Martin Argles
for the Guardian  Ministers will encourage companies to offer a
new Dutch-style pension to their employees, under urgent reforms
sparked by the rapid disappearance of final salary schemes and
the increasing number of people failing to save for their
retirement.  Oil giant Shell became the last of the FTSE 100
companies to close its "defined benefit" final salary scheme
last month and two out of three people in the private sector now
fail to save at all. If they offer anything, employers now tend
to provide inferior "defined contribution" schemes for their
staff, that off