Today, we published our Green Paper on defined benefit pension schemes. The schemes provide an important source of income in the retirement plans of millions of people. The majority of the nearly 6,000 defined benefit pension schemes are run effectively. We are fortunate to have a robust and flexible system of pension protection in the UK. However, it is clear that experiences differ from scheme to scheme. Some employers are clearly struggling and the system may not be working optimally in all circumstances. The Green Paper is an opportunity to look at the schemes to ensure the system remains sustainable, while still ensuring members’ benefits are protected.