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Survey predicts radical changes to pension packages

Final salary pension schemes are set to disappear in the next 20 years according to a survey by consultants Bacon & Woodrow.


The firm surveyed senior human resources and finance personnel representing over half a million employees to gain their views on what remuneration packages will be like in 2018.


It is forecasting that final salary pension schemes will be replaced by money purchase and group personal pension arrangements over the next 20 years.


The survey also predicts that long term care insurance and facilities for caring for elderly relatives will become standard elements of employee remuneration packages.

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