Employers flee pensions time bomb, says PwC survey

Employers want to escape from the costly pension schemes that employees and potential employees look for in their ideal job. But reconciling the two may prove impossible according to the third PricewaterhouseCoopers LLP Pensions Survey.

PwC says employers are increasingly looking for strategies to rid company balance sheets of defined benefit (DB) pension liabilities. The survey also found a significant increase in the number of companies closing DB schemes to existing employees and looking to buy-out their pension schemes.

But the Pensions Survey found a clear disconnect between a corporate determination to exit DB provision and the increasing importance of pensions in attracting and keeping the people organisations need to succeed.

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