Six out of 10 employees see no benefit in personal accounts, when saving for retirement.
Trade union Unite has expressed 'outrage' at the number of employers closing final- salary pension schemes in the last month.
Employers still offering defined benefit (DB) pensions could face a twelve-fold increase in pension deficits - taking the total to 689 billion by the end of this year - according to pension experts.
Leading organisations are increasingly seeking to look after their employees' interests beyond the immediate workplace remit. Many organisations have recognised financially secure employees are more...
In the current economic climate companies are obviously struggling and the presence of a final-salary pension scheme will often be placing an added strain on a company's finances.
The Government must give businesses struggling in the recession more 'breathing space' to take steps to minimise the effects of deficits in their final-salary pension schemes, according to the CBI.
Thanks to a 'bullish performance' by global equity markets, the asset value of UK workers' defined-contribution (DC) pension accounts has increased by 10% since April to a combined total of 418...
Fujitsu Services is planning to close its final salary pension scheme to future accrual, affecting the retirement benefits of 4,000 active members.
Molnlycke Healthcare has launched online total reward statements and a salary sacrifice pension scheme.
Personal accounts look likely to fail in 2012 as 80% of employers plan to keep their existing scheme and only 2% intend to offer a pure personal accounts arrangement.
Budget measures to levy additional tax on high earners' pension contributions will be detrimental to employers offering corporate pension schemes, industry experts agree.
Despite fears of pensions under-funding, the Department for Work and Pensions (DWP) shows the average income for pensioners has grown 29% between 1997 and 2007 but the DWP reports older people are...