Scheme benefit changes and closure to future accrual

The expense of providing defined benefit (DB) pensions continues to prove onerous for UK businesses.  Employers have found the associated costs to be higher than anticipated due to increasing life expectancies, low investment yields, and increasingly complex legislation.

For those DB schemes that remain open to future accrual, changes to future service benefits may be necessary to keep costs at a sustainable level.

Our briefing note provides further information on the possibilities and how we can help.