More than 40% of smaller employers in the UK would consider closing their existing pension schemes for the potentially less-generous Personal Accounts, a study suggests.
According to the study by the Association of Consulting Actuaries (ACA), 41% of firms with fewer than 250 employees may opt for the Government-backed scheme. Additionally, three-fifths of employers will review their pension arrangements ahead of the introduction of auto-enrolment and Personal Accounts in 2012. The trade body's second pension trends report - which surveyed 309 employers with total scheme assets of over £138bn - found 59% of respondents, including 86% of smaller employers, were set to review pension arrangements ahead of 2012 reforms. Only one-third of all employer...
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