Almost half of senior finance decision-makers at UK businesses with a defined benefit scheme, specifically 48%, reported that they could devote more time to core business priorities if the scheme was removed from their books, according to new research from Standard Life. The insurer's findings also show that 74% of surveyed decision-makers described the level of time associated with managing their defined benefit scheme as significant, despite improved funding levels across the board.
Why it matters
Improved defined benefit funding levels have not eliminated the operational burden, with nearly half of finance decision-makers indicating they would prefer to remove schemes entirely to refocus on core commercial priorities.
Original source
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