Employees may soon pay more for pension
Private sector employees who are still members of final salary or other “defined benefit” pension schemes might count themselves lucky to be in such attractive retirement arrangements – but they could well find that the terms they receive are downgraded in a year’s time. In April 2016, the state pension scheme will be overhauled – and a side-effect of that will be the ending of a very useful rebates system for all defined-benefit plans. As of that month, employers [...]