Final salary pension dead by 2020

Sarah Coles
mature couple in the park
mature couple in the park

Anthony Devlin/PA Archive/Press Association Images

The Pensions Policy Institute has put a date on the death of final salary pensions in the private sector. Apparently by 2020 they will have all-but disappeared, as businesses close schemes to new entrants, and freeze schemes for current staff.

It could be a disaster, precipitating a massive crisis for retirees. However, one expert says there's a small chance of salvation.