UK - More than a quarter of closed defined benefit (DB) schemes will be replaced by defined contribution (DC) plans as a direct result of the economic crisis, research by the National Association of Pension Funds (NAPF) has shown.
A survey of 100 schemes by the NAPF found 27% of employers with closed funds intend to switch existing members to some form of DC or hybrid/career average plan. The report, Pension Provision and...
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