Four out of five DB schemes are closed to new entrants

According to a survey by the Association of Consulting Actuaries, four out of five of the UK's defined benefit schemes are closed to new entrants.

More than 330 employers were surveyed, with scheme assets in excess of £127bn and more than 2.1m members. The survey revealed that 81 per cent of defined benefit schemes are now closed to new entrants, up from 68 per cent two years ago.