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Mon 02 Feb 2010Defined benefit pensions in danger of collapse, says Ibec
EMPLOYERS’ GROUP Ibec has said that unless funding rules governing defined benefit pension schemes are urgently reformed, a significant number will collapse.
Ibec said a survey of 253 employers which it carried out, found that of those who operated a defined benefit pension scheme, just under half (47 per cent) indicated it did not comply with the minimum funding standard set by the Pensions Board, while 62 per cent said they faced difficulties in funding their scheme.
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