ACA calls for creation of standing pensions committee

According to an ACA survey, nine out of 10 defined benefit schemes are closed to new entrants and the outcome for an increasing number of private sector employees remains bleak. The survey, which questioned over 309 employers, suggests a huge 87% of defined benefit schemes are now closed to new entrants. The industry body lambasts the failure of public policy to promote pensions in the private sector, and says the problem is getting worse as more and more employers close down schemes. "With taxes on businesses and individuals likely to rise over the next few years, it is difficult ...