Yearly Archives: 2011

More final-salary pension schemes have been shut to existing staff in the private sector during 2011, a report says. Some 23% of pension schemes are shut to future contributions from existing savers and to new staff, the National Association of Pension Funds said. This compares with just 3% in 2008, and 17% in 2010. The group estimated that 250,000 workers have moved out of final-salary schemes in the past three years. ‘Watered-down’ The shift from final-salary schemes to defined contribution schemes, which shifts much of the risk onto the employee, has been one of the key trends in the pensions… continue reading