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Only 2% of defined-benefit schemes will be open to new members by 2012

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Source: Occupational Pensions

Issue: 268

Date: 01/09/2009

Publisher: LexisNexis Butterworths

Only 2% of defined-benefit schemes will be open to new members by 2012

TOPICS:

pay and benefits

benefits (pay-related and other)

A new survey by actuarial consultants Watson Wyatt reveals that the exodus from defined-benefit (DB) pension provision is set to continue over the next three years. About half the companies with DB schemes expect to have closed their plans to new entrants and to all future accrual by 2012, while only 2% say they will still be open to new members.

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