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By Michael Skapinker
Published: May 24 2010 20:35 | Last updated: May 24 2010 20:35
Within six years, final salary pensions will have disappeared from the UK private sector, according to a study by JPMorgan Cazenove and Pension Capital Strategies. Corporate defined benefit schemes are vanishing in the US too. It is not only private sector workers who should be worried. From America to the UK to Greece, public employees are being warned that their once-reliable pensions are unsustainable.
Wherever they are, people will have to take more responsibility for their finances. The move to defined contribution schemes means they will need to choose from a range of investment options.
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