DB schemes only open to 14% in ten years - survey

Some 6% of DB schemes have closed to future accrual and the proportion is expected to grow to around 15% of all DB schemes by 2010, and to over 40% in the next five to 10 years. The consultancy says its research illustrates the continued retreat from DB pension provision. Half the respondents expect to have attempted to remove their DB legacy – through a pensions buyout or other type of transaction – within the next 10 years. It also reveals an increased focus on defined contribution (DC) schemes, with companies improving the level of contributions and seeking ways to improve member eng...