'Seismic collapse' in private sector pensions - ACA

An ACA report argued the gap between private and public pensions is widening after its research suggested nine in ten private sector defined benefit (DB) schemes have been shut to new entrants. It also found four out of ten schemes are closed to future accrual after surveying 468 employers who run 560 pension schemes. The government hopes automatic enrolment, set to begin later in 2012, will help millions to save for the retirement. But ACA chairman Stuart Southall said that while automatic enrolment should widen private sector pension coverage, it was "discouraging" to see the gov...