The good news is that schemes are generally in better shape in 2010, giving finance directors and pension scheme trustee boards an opportunity to take risk off the table. But in today’s environment of low interest rates, moving to a full buyout is unrealistically expensive for most schemes.
At the same time, the scrapping of the default retirement age is taking away one of the fundamental building blocks of final salary schemes. And FDs are getting to grips with a future that offers equal rights to fathers when it comes to parental leave – creating a potential bureaucratic tangle.
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