Comment: Just how generous is defined benefit?

Jenna Towler looks at the DB/DC divide

Jenna Towler
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A 35-year-old joining a defined contribution fund today could have to contribute more than ten times the amount of his colleague in a defined benefit scheme to get the same outcome.

That statistic, from Pension Corporation, equates to 55% of gross salary for the DC member – which last year, for someone on average wages was £14,000. However, the DB member would have to put just...

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