Union hits out at cuts
UK - The Communication Workers' Union hit out at firms over making "stealth cuts" in contributions when final salary schemes are closed in favour of DC schemes.
The move came in the wake of the NAPF’s latest research which showed that, on average, firms halve their contributions when they switch arrangements.
The survey found that employers, on average, pay 6% into a DC scheme against 12% for DB plans.
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Defined Contribution Conference: Register now
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