Punter Southall briefing note: Pension scheme closures

Punter Southall is pleased to announce the release of its latest briefing note Pension scheme closures.

In brief

• In the current climate many companies are considering closing their defined benefit schemes to future accrual.  This is seen not only as a way to reduce scheme deficits but also as a move to prevent further build-up of benefits which generate volatile costs for employers.

Next Steps

• Employers should consider whether or not closing their existing defined benefit schemes would be beneficial to the company and whether or not any further advice is required.
• Where employers are proposing to close schemes, trustees should consider what steps they should be taking and what their role is in the process.

Ends

For more information or to speak with a Punter Southall representative, please contact:

Penrose Financial

Andre Flemmings
020 786 4811

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