Pension schemes in Britain have traditionally been based upon final salary or earnings schemes where benefits are defined until a member of the scheme dies. Pensions are treated as deferred wages and most final salary pension schemes were funded by both employer and employee contribution, where employers paid in two to three times the level of the contributions by employees.
these schemes to new employees and existing employees has meant that by 2009 only 35% of workers in the private sector paid into a company pension fund. Previously, the figure was 45% in 1999. By Gregor Gall, Research Professor of Industrial Relations and Director of the Work and Employment Research Unit (WERU), University of Hertfordshire. (Ref. 110356)
Pension schemes in Britain have traditionally been based upon final salary or earnings schemes where benefits are defined until a member of
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