DB scheme closed

clock •

The Citizens Advice Bureau is to close its final salary scheme after its deficit doubled in three years.

It says new mortality assumptions have pushed up the deficit from £12.5m in 2004 to £25m, despite downgrading the accrual rate from 1/60ths to 1/80ths in 2005. The CAB said it would be consultin...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Defined Benefit

Managing surplus becoming 'increasingly important' strategic priority
Defined Benefit

Managing surplus becoming 'increasingly important' strategic priority

LCP says surplus sharing is rising up agendas, but most schemes still face endgame barriers

Holly Roach
Holly Roach
clock 17 July 2026 • 2 min read
PPF 7800 aggregate surplus remains consistent in June
Defined Benefit

PPF 7800 aggregate surplus remains consistent in June

Lifeboat fund’s index shows surplus saw narrow increase of £0.2bn last month

Martin Richmond
Martin Richmond
clock 14 July 2026 • 3 min read
Increased DB funding levels driving more complex endgame decisions
Defined Benefit

Increased DB funding levels driving more complex endgame decisions

Hymans paper says DB schemes have entered a ‘fundamental’ new phase

Martin Richmond
Martin Richmond
clock 10 July 2026 • 3 min read
Trustpilot