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PENSIONS

More than 50% of companies surveyed would wind up their pension schemes and 25% would slash benefits and increase employees’ contributions if regulators imposed stricter funding obligations, according to The Sunday Times.

The survey by IFG Corporate Pensions found fewer than 3% of employers would be willing or able to increase contributions.

“The Pensions Board, which estimates that 70% of schemes are in deficit, suspended funding obligations in October 2010 because so many schemes could not comply with deadlines for returning to solvency,” the article notes. “It plans to publish guidelines for revised funding deadlines before the end of the year.”

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