Prepare for the end of final salary pensions ; More companies announce closure of their schemes
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Summary
ANOTHER week and another rash of bad news for that ever- diminishing pool of staff still fortunate enough to be in company final salary pension schemes.
With Barclays, supermarket WM Morrison and oil giant BP announcing the closure of their schemes, many will wonder if MPs and public sector workers will remain the only people in the country able to draw down such benefits in the future.See the full content of this document
Extract
Prepare for the end of final salary pensions ; More companies announce closure of their schemes
The reason that so many businesses are closing their schemes is down to cost. The UK's 7,800 final salary pension schemes have a combined black hole of pounds 100bn fol...
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