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Fifth of firms to close DB schemes

More than a fifth of companies offering a final salary scheme are planning to close it, according to a survey from Employee Benefits magazine.

Around 73 per cent of employers with defined benefit schemes said they felt their staff did not appreciate the cost and effort of running the scheme and only 52 per cent believe their staff understand their pension.

Around 59 per cent of companies only talk to their staff about pensions once a year.

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Wesleyan offers discount funds

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5.45% fix for non-conforming loan

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Rothschild seeks wealth preservation

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