Final salary members face scheme transfer threat - papers 22nd June

Christine Farnish, chief executive of the National Association of Pension Funds, says the switch was likely to happen because employers could no longer afford the risk of running final salary schemes and most workers in final would not be able to stop them being replaced with less generous money purchase schemes. Farnish told the BBC’s Today programme: "A disproportionate amount of cost and risk in the pension system is now on employers' shoulders. Over the years, successive governments have increased the amount of responsibility and the level of benefits employers are expected to provid...