Nine out of 10 defined benefit pension schemes are now closed to new entrants as employers continue to move away from the high-cost schemes, a report says.
A total of 18% of the schemes, which include final salary pensions, are closed to future accruals from members, said the Association of Consulting Actuaries. The ACA, which quizzed 309 firms, said the situation was "deteriorating", with 91% of such schemes now in deficit reported the BBC. See story...
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