UK - The number of defined benefit (DB) schemes that remain open has stayed steady, according to latest National Association of Pension Funds (NAPF) annual survey.
In addition, 40% of respondents with open DB schemes expect no changes to be made to pension arrangements in the next five years
The survey also revealed that finance directors are trustees of 30% of workplace pension schemes. Finance directors are trustees of 39% of schemes under £100m and 25% of schemes over £750m.
Joanne Segars, chief executive, NAPF, said: "While finance directors are already pivotal to the world of workplace pensions, much of this change, led by the 2012 pension reforms, will only add to their importance whether they are a trustee or not.
"With three in every four schemes believing they will be affected, the impact of the pension reforms should not be underestimated by finance directors especially in the field of auto-enrolment.
The survey showed that 75% of schemes believe they will be affected by the 2012 pension reforms and they will have to make some changes to their schemes to comply with the new rules, for example, auto-enrolment.
Only 40% of private sector respondents expected that they would have to auto-enrol some existing employees and 59% expect to have to auto-enrol existing employees.
The NAPF said, in practice, it was only schemes with 100% take-up amongst employees in the relevant age and income bands who would not have to auto-enrol any existing or new employees.
The survey also showed employers operating DC schemes were contributing 7% of pensionable pay - more than double the 3% required by the new Personal Accounts system due to be introduced in 2012. In addition, 9% contributed 10% or more.
Ex-BHS owner Dominic Chappell has been ordered to pay a total of £87,000 in fines and court costs after he was found guilty of failing to provide The Pensions Regulator (TPR) with information.
The Department for Work and Pensions (DWP) has said it while believes in the benefits of consolidating defined benefit (DB) schemes, there are significant issues to overcome.
There is just one week left to register to enter the Workplace Savings and Benefits Awards 2018.
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