Workers face pension pain
Monday 28 January 2013
Printable
EmailThe National Association of Pension Funds warned yesterday that more and more new workers were being shut out of final-salary schemes.
The plans were closing to new employees at the fastest rate on record, the group said.
Only 13 per cent of schemes would accept new entrants last year - down a third on 2011.
About half of private-sector final-salary schemes were open to all workers in 2005.
Pension funds also said that defined-benefit schemes were closing fast to workers already in them.
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