The scheme is still available to existing members of staff, but the fact the body, whose strapline is ‘securing the future of pensions’, has closed its DB scheme, could be yet another nail in the coffin of the final-salary pension.
A spokesman from the NAPF told HR magazine: "In common with other employers, the NAPF has recently reviewed its pension arrangements. The NAPF remains committed to good quality workplace pension arrangements for all its staff and is in the process of setting up a trust-based DC scheme.
"New employees will be automatically enrolled into this scheme, which will meet the standards of pensions quality mark plus. The DB scheme will remain open to existing members for future accrual."
