QE a factor in record pension scheme closures, says NAPF

The NAPF's annual survey - of more than 1,000 schemes run by 280 private sector firms - found that only 13% were still open to new joiners, down from 19% in 2011. Meanwhile, 31% were now closed to existing staff as well, up from 23% the previous year. The organisation's chief executive, Joanne Segars, said the government's money printing programme had a bearing on scheme closures. "The pressures on final-salary pensions have proven too great for many businesses. The growing liabilities fuelled by quantitative easing will have been a factor behind the record hike in closures." Sh...