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final-salary

    0.01 sec.
final-salary
adj
(Social Welfare) another name for defined-benefit


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Not only are the majority of final-salary pension schemes closed to new members, but almost all blue-chip companies admit their schemes are unsustainable.
John Lewis - long regarded as one of the UK's best workplaces - is set to force staff to work five years longer before they can draw on its lucrative final-salary scheme.
This is how a switch from a final-salary pension to a cash investment scheme would affect different age groups: A 30-year-old earning pounds 26,000 a year in a final salary scheme can expect a pension worth pounds 15,080 at 65.
 
 
 
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