Many businesses have already cut back on more expensive final salary pensions with more expected to do the same.
To fill the gap it's possible that pensioners would have to pay more in, making pensions more expensive, or the schemes might be split into separate schemes for Scotland and the rest of the UK - again this is likely to cost more.
"For them to be making pensions more expensive at the same time is completely irrational".
"On the other hand, if those who are already drawing the pension on the basis of one rent are free to move to more expensive accommodation and have their pension increased accordingly, pensions will come to look like subsidies to landlords".
"Post-Brexit gains in government bonds (lowering yields) work both ways: making it more expensive to buy a pension at retirement, but increasing the value of the pension pot of those lucky enough to be de-risking towards annuities in the glidepath to retirement," MClymont said.
Age discrimination is inevitable because, in many situations, older hires are more expensive (because of higher pension-funding costs), harder to train (because they may be less malleable than younger workers), and less able to make a payback on the training (because they have fewer productive years left).
That means public sector pensions are more expensive to fund.
Annuity rates have plunged, making pensions much more expensive to buy".
Steadily, however, the promise of a DB pension became more expensive.
Thirdly, borrowing against a future pension lump sum would be more expensive than taking the money out of the pension fund and using it directly.
