Final salary members are losing £800 million, research finds

Pension fund members could be losing out on up to £800m of benefits because final salary pension schemes have been wound up inefficiently. "Wind-ups pose many problems for trustees and members alike," says Antony Miller, a partner at actuarial consultants HighamNobbs Consulting. "Trustees are in the difficult position of having to look after members' interests whilst ensuring compliance with complex legislation and facing the potential risk of litigation should things go wrong. This all means that members will usually face a reduction in their entitlements and uncertainty over th...