One in four DB schemes will switch to DC

A survey of 100 schemes by the National Association of Pension Funds found 27pc of employers with closed funds intend to switch to some form of DC or hybrid/career average plan. The report, [ital] Pension Provision and the Economic Crisis [endital] also found more than half (52%) of DB schemes open to new members expect to close within the next five years as a result of the current downturn. And the survey suggests workers' confidence in pensions has also evaporated over the past year. In September 2008, at the height of the stock market gyrations, NAPF's Pensions Confidence Index stood...