An independent report into the pensions situation in the UK has found that final salary pension schemes for public sector workers could become a thing of the past, to prevent polarisation in the pension sector.
The new study claims that the retirement provision disparity between the public and private sectors has to end shortly. Final salary pension schemes in the private sector have almost disappeared, with four out of every five now closed to new members.
However, some 5 million public sector workers still have final salary pension schemes. The report, by Hargreaves Lansdown, reportedly commented:
"The burden of pension promises made to today's public sector workers will fall on the shoulders of our children and grandchildren."
Final salary pension schemes for public sector workers could be doomed
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Final salary pension schemes for public sector workers could be doomed
Fri, 05 Sep 2008
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1998 - 2008 UK Pensions - Planning before, at the onset and during retirement.
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