Pension cutbacks planned

A third of employers are planning cutbacks to future pension benefits and one-fifth are considering winding up their defined benefit pension schemes, according to new research.

25th July, 2009

A third of employers are planning cutbacks to future pension benefits and one-fifth are considering winding up their defined benefit pension schemes, according to new research.

The PricewaterhouseCoopers survey found that the value of average managed pension funds fell by 35 per cent last year, which resulted in significant funding deficits.

The survey, based on responses from more than 400 employers, said that almost a third of employers potentially do not have the ability to fund...

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