“There has been a “seismic collapse” private sector pensions, and the gap between private and public pensions is widening, a report warns.

The Association of Consulting Actuaries (ACA) says that nine out of 10 private sector defined benefit schemes are now closed to new entrants.

The ACA wants bold government action to reinvigorate workplace pensions.

Automatic enrolment, set to begin later this year, would enable millions of people to save, the government said.”

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BBC News – Private sector pensions in seismic collapse, says ACA.