Standard Life to close DB scheme to future accrual from April 2016; upgrades DC alternative

Jonathan Stapleton
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Standard Life has announced it is closing its defined benefit scheme - currently used by 55% of its employees - to future accrual from April 2016.

The life firm said pension provision for all UK employees will be on a defined contribution (DC) basis. Currently around 45% of the insurer's employees are already in a DC arrangement as the DB ...

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