Budget 2011: Abolition of contracting-out will lead to further DB closures

clock

The abolition of contracting-out for defined benefit schemes will lead to more employers closing these schemes to existing members.

Today's Budget announced contracting-out for defined benefit schemes would be scrapped as part of the move to a single tier state pension. However ending contracting-out means defined benefit sc...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

More on Industry

UK GDP shrinks 0.1% in January

UK GDP shrinks 0.1% in January

Decline in GDP due to a fall in production output as forecast predicts 'tough year ahead'

Sorin Dojan
clock 14 March 2025 • 2 min read
PLSA Investment Conference: Member outcomes must be 'front and centre' of scheme agendas

PLSA Investment Conference: Member outcomes must be 'front and centre' of scheme agendas

People’s Pension CIO says members want ‘do it for me’ approach from providers

Jasmine Urquhart
clock 14 March 2025 • 1 min read
XPS Group becomes administrator of John Lewis pension scheme

XPS Group becomes administrator of John Lewis pension scheme

Scheme selected consultancy of administrator to ensure high-quality service for members

Holly Roach
clock 14 March 2025 • 2 min read
Trustpilot