The Wall Street Journal (United States), October 6, 2014—Pension Dropouts Cause Pinch: “Motorola Solutions Inc. and Bristol-Myers Squibb Co. are the latest companies to cast off billions in pension burdens, fueling a trend that could weaken the government’s ability to protect the payouts other employers have promised millions of retired workers. … Only 14 percent of the nation’s private-sector workers were covered by defined benefit plans in 2011, less than half the 38 percent in 1979. …”
The Guardian (U.K.), February 22, 2013—Pension scheme membership at 15-year low: “Membership of workplace pension schemes fell for the 11th year running in 2012, to 46% of the British workforce, official figures have shown … Defined benefit pension schemes, also known as final salary, continue to disappear from workplaces … The figures show that 91% of public sector employees with workplace pensions had a final salary scheme in 2012, against just 26% in the private sector.”
The Globe and Mail (Canada), February 20, 2014—Shift from defined benefit pensions reinforces need for retirement planning: “For decades, most workers relied on a promise of how much they would receive in retirement from their company pensions. … But that pension certainty is fading as many companies—faced with large unfunded liabilities and deficits amid low interest rates—moved employees, especially new recruits, to defined contribution plans that guarantee contributions but not final monthly ...
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