PwC becomes latest big employer to drop DB pension scheme

Professional services firm PricewaterhouseCoopers (PwC) is the latest major employer to abandon its defined benefit pension scheme.

25th May, 2013

Professional services firm PricewaterhouseCoopers (PwC) is the latest major employer to abandon its defined benefit pension scheme.

Hundreds of staff at the firm will move from a defined benefit (DB) pension scheme to a defined contribution (DC) scheme next year after a major review by the firm.

The change means employees won't be guaranteed a specific benefit on retirement, but will get back only the total amount contributed plus accumulated investment returns.

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