UK - Final salary pension schemes are dying because they have shifted from their original design, The Pensions Trust claims.
Chief executive Richard Stroud said: “It is ironic that the same actuaries who told trustees that they could and should enhance final salary benefits in the heady days of the 1990s, were now telling trustees they needed something completely different.”
Stroud added that career average revalued earnings schemes offered a “third way” for employers looking to stabilise costs and still retain a salary-related link for members.
This week's top stories included Cardano announcing plans to acquire Now Pensions from a Dutch pension fund later this year.
Royal Bank of Scotland (RBS) faces a £102m impact on liabilities as a result of equalising guaranteed minimum pensions (GMPs), according to its annual results.
Malcolm Mclean says getting the channels of communication right and engaging more openly is a good starting point