DB schemes continue to close to future accrual

94% of DB schemes no longer accepting new entrants

Martin Richmond
clock • 1 min read
DB schemes continue to close to future accrual

The number of defined benefit (DB) schemes that closed to future accrual continued to increase across the year, according to Aon.

The firm's 2022 DB Pension Design Survey of over 330 DB schemes found 88% have reviewed the DB benefits they offered and 72% opted to close their scheme to future accrual, representing a 4% increas...

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

Join now

 

Already a Professional Pensions
member?

Login

Martin Richmond
Author spotlight

Martin Richmond

Reporter at Professional Pensions

View profile
More from Martin Richmond

Aviva and Age UK call for introduction of mid-retirement MOT

Industry sceptical of impact of productive assets to boost DC outcomes

More on Defined Benefit

DWP responds to WPC report on DB pensions market
Defined Benefit

DWP responds to WPC report on DB pensions market

Government confirms it will consider PPF compensation changes and consult on trusteeship, accreditation and governance

Holly Roach
Holly Roach
clock 01 May 2025 • 4 min read
Industry supports DB surplus release so long as clear parameters set, Aon finds
Defined Benefit

Industry supports DB surplus release so long as clear parameters set, Aon finds

Poll finds industry favours prudent thresholds and detailed consideration when it comes to future plans for surplus release

Holly Roach
Holly Roach
clock 23 April 2025 • 3 min read
Sponsoring employers facing less pressure after 'radical' funding improvements
Defined Benefit

Sponsoring employers facing less pressure after 'radical' funding improvements

Broadstone says employer contributions needed to plug scheme shortfalls have ‘plummeted’

Holly Roach
Holly Roach
clock 22 April 2025 • 1 min read
Trustpilot