Pension schemes opt out of defined benefits

News

The number of pension schemes switching from defined
benefit to defined contribution structures has doubled in the last year, according to an annual survey published by the UK’s National Association of Pension Funds.

The association’s 27th survey, covering 800 UK pension schemes, showed that 13 schemes changed from defined benefit, where employers guarantee employees a set remuneration on retirement, to defined contribution schemes, where individuals take all the risk of the value of their p

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