DB or not DB? That is the question...

As more and more employers withdraw defined benefit pension schemes, is the UK moving towards a two-tier system of haves and have-nots?

Most people faced with the question, DB (defined benefit) or not DB, would probably opt in to a final salary pension. But with many employees outside the public sector no longer being given the choice, are DC schemes a fair replacement? Are workers being pushed out of expensive pension offerings? And are we in danger of having a two-tier pension system in the UK? On average, people will retire on just 47% of their pre-retirement income, according to Fidelity's Can't Save, Won't Save viewpoint paper released in May. The research warns the move from DB to DC schemes is "creating a new under...