Almost half of all final salary pension schemes will close within five years, a report today predicted.

Yes they do - a final salary scheme with a choice of accrual rates.

If no changes are introduced to the current final salary scheme, they would receive £19,100.

"Nine out of 10 final salary pension schemes are closed to new members"

For example, in our case, there was an issue with the company's final salary pension scheme.

Under the current final salary scheme, they would receive £19,100.

It means the price of a guaranteed final salary scheme is a hefty pay cut.

There is real concern about the final salary pension schemes of those workers.

Many private sector staff are still members of final salary schemes, but they tend to be older employees.

But companies are closing their final salary schemes to existing members.