FTSE 350 final salary schemes 'will cease' by 2027

Cost pressures to blame

clock • 2 min read

No FTSE 350 companies will retain a final salary pension scheme open to accrual by 2027, analysis by Hymans Robertson finds.

The cost pressures associated with running these defined benefit (DB) schemes will inevitably mean companies will give up on trying to keep up with growing liabilities. Currently, just 45% of FTSE 350 companies continue to operate a final salary scheme either open to both new members and future accrual or just open to future accrual. Yet, increased scrutiny and financial demands on sponsors, particularly from The Pensions Regulator (TPR), will cause the doors to be shut. This will be particularly acute following the last two years' BHS and British Steel problems, the FTSE 350 Pensions...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Retirees feel regret after rushing to take out tax-free cash

Retirees feel regret after rushing to take out tax-free cash

Chancellor urged to provide earlier clarity ahead of 2026 budget

Isabel Baxter
clock 02 July 2026 • 3 min read
Third Financial launches white-labelled SIPP

Third Financial launches white-labelled SIPP

Titan Wealth first client to use service

Jenna Brown
clock 29 June 2026 • 1 min read
Environmental due diligence for SIPP/SSAS is as important as ever

Environmental due diligence for SIPP/SSAS is as important as ever

Environmental due diligence isn't just a ‘tick-box'

Caitlin Southall
clock 29 June 2026 • 4 min read