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More companies close final salary pension schemes

Fewer than six out of 10 final salary pensions are still open to new members after more companies closed their scheme during the past year, figures showed today.
Just 58 per cent of final salary schemes still accept new entrants, falling to 43 per cent among private sector employers, the National Association of Pension Funds said.

During the past 12 months, a further 37 employers closed their final salary pension to new members, roughly the same number as the 36 who did so during the previous year.