Sentence examples for average schemes from inspiring English sources

Defined benefit pensions include final salary and so-called career average schemes.

Meanwhile, final salary (and even "career average") schemes are looking ruinously expensive.

Career average schemes have little effect on the incomes of the low paid and offer a fairer reward.

It points the way away from final salary pension schemes, which are unfair, and towards career average schemes.

The employers have begun to target existing workers, many in their 40s and 50s, who are in these career average schemes, saying: "You can keep what you've built up so far, but nothing beyond that".

The proposals for health, education and civil service include higher contributions, pegging the pension age to the state pension age and switching people on final salary schemes to career average schemes.

They find that the average scheme is just 72% funded, despite buoyant equity markets in 2013; back in 2001, the average scheme was 103% funded.

However, the new CAB 2011 scheme will require staff to contribute more, 7% of their salary, up from 4% under the current career average scheme.

Its chief executive, Joanne Segars, said: "Moving to a new career average scheme is a sensible approach that will help protect the lower paid.

The firm, which employs around 7,000 workers, is looking to move 5,000 staff to a less generous career average scheme by the middle of next year.

The news that her pension contributions will now go into a career average scheme has come as a real blow – one that is making her consider quitting the civil service.