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Has regulation killed off the defined benefit scheme as a cost effective tool for human resource management?

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  • Robert Hudson

Abstract

Purpose - The purpose of this paper is to investigate the effect of regulation on both the cost of defined benefit pension (DB) schemes and their effectiveness for human resource management. Design/methodology/approach - The paper initially outlines the factors that have affected the costs of DB schemes. It then reviews relevant theory from the human resources area and details how ongoing regulation has impinged on the use of DB schemes in this area. Findings - Many years of heavy regulation have not only increased the costs of DB schemes but reduced their utility in the field of human resource management. In consequence, the business case for these schemes has been very much weakened. Practical implications - The undue regulation of scheme design needs to be reduced to allow organizations to evolve pension forms that provide an attractive balance between their cost and their appreciation by employees and hence their utility in the field of human resources management. Originality/value - The paper proposes a framework for analyzing the business case for DB'schemes. This framework is very convenient for examining the overall effect of changes in regulation.

Suggested Citation

  • Robert Hudson, 2008. "Has regulation killed off the defined benefit scheme as a cost effective tool for human resource management?," Journal of Financial Regulation and Compliance, Emerald Group Publishing Limited, vol. 16(3), pages 220-229, July.
    • Handle: RePEc:eme:jfrcpp:v:16:y:2008:i:3:p:220-229
    DOI: 10.1108/13581980810888831
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    Cited by:

    1. Kaifala, Gabriel B. & Paisey, Catriona & Paisey, Nicholas J., 2021. "The UK pensions landscape – A critique of the role of accountants and accounting technologies in the treatment of social and societal risks," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 75(C).

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