More than 40% of employers offering defined benefit (DB) pension schemes say that they will not be able to afford to provide staff with them in five years’ time. Over half the employers surveyed for the Pension Confidence Survey by Alexander Forbes Financial Services currently have schemes in place which are open to future accrual.
Almost 50% of respondents believe their organisation can afford the full buy-out cost of offloading DB pension liabilities by purchasing immediate and deferred annuities. The results of the Pension Confidence Survey will be released at a series of seminars throughout November. For more information visit www.alexanderforbes.co.uk