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One-third of final salary schemes to close by 2009

Almost one-third of UK defined benefit pension schemes will be closed to both new and existing members by 2009, predicts Aon Consulting.

Aon, which surveyed 115 UK defined benefit pension funds, found 12% are now closed to new members and accruals, compared with 3% in 2003. This will rise to 29% in 2009, forecasts Aon.

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