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Just 841 final salary schemes remain open.
Q: People in final salary schemes will pay more.
Some final salary schemes have become unsustainably expensive.
It has been a slow and painful death for final salary schemes.
"Final salary schemes have valuable guarantees which will be extremely difficult to replace," he says.
Of the £1.3tn, £800bn can be found in occupational final salary schemes.
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Final-salary schemes, by contrast, punish backpacking and reward sedentariness.
Final-salary schemes are hardly ever offered to new employees these days.
So private-sector workers in final-salary schemes may also lose their right to transfer.
A NEW system to protect pensions in final-salary schemes started in April.
Most companies no longer offer final-salary schemes to new employees.
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