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Why have final salary pensions stopped?

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Written on: 02.11.2009 [14:43]
Topic creator
Posts: 2
These new defined contribution pensions are ridiculous, we are offered so much less than that what was offered during the days of final salary pensions and those who were lucky enough to join before they stopped are still getting the benefits. Does anyone know why they were changed, and if there are still any companies anywhere offering this type of pension? Shouldn’t we all be under the same plan, even if it means transferring fund values across?
Written on: 10.11.2009 [11:08]
Posts: 7
So many companies stopped this back in April I think. I work for Royal Mail and we had our pensions changed from final salary schemes to a “career-average scheme”. Apparently it is something to do the financial crisis, they said that they saw the pensions for life scheme very risky and very expensive.
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