Eight-out-of-ten trustees (80%) predict their defined benefit (DB) pension schemes will still exist in ten years despite 50% of employers claiming DB schemes will wind up in this time.
According to the 2008 Aon Consulting Trustee Survey more than half of the 250 trustees surveyed (52%) thought that their scheme would last in excess of 20 years. In fact, they ranked pension scheme wind-up as the least important issue facing their pension scheme.
Paul McGlone, principal and senior actuary at Aon Consulting, said: “It is worrying that there is such a large expectation gap between trustees and employers over the longevity of pension schemes.
“Without a commonly shared view, there is unlikely to be agreement over actions, and there is a danger that one party takes decisions that are a hindrance to the other. We recommend that both parties should always take steps to agree shared expectations about the pension fund life span.”