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2009-08-19 — arabtimesonline.com
"The fallout of the financial crisis is forcing an increasing number of UK companies to close their expensive defined benefit pension schemes in favour of cheaper pension arrangements, new research has found. Half of UK companies expect to have closed their defined benefit (DB) schemes — which pledge a level of pension linked to their salary — to all employees by 2012, a survey by pension consultants Watson Wyatt showed on Monday. "
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