Pensions Schemes Close
Published / Last Updated on 23/08/2008
Pensions Schemes Close
Watson Wyatt figures show, more than 40 per cent of defined benefit schemes are expected to close to future accrual in the next 5 to 10 years. The survey revealed the number of schemes expected to close to future accrual was up from just 6 per cent in its previous study. It also found that the proportion of defined benefit schemes open to new entrants is expected to fall to 14 per cent over the same period, it currently stands at 25 per cent.
It is no surprise the employers are looking to protect both themselves and existing staff by starting to restrict costs on future pension funding
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