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The announcement that two more of the few remaining  final salary pension schemes are closing, (see links below), indicates over regulation has taken place. In 20 years, we have gone from an environment of ‘laissez faire’ to multiple and onerous layers of regulation, which were  introduced with the intention of protecting member benefits. This appears to have failed, as almost all such schemes have now closed completely or have closed to new members, leaving them with no guarantees and no security going forward.

FSA closes final Salary sceme.

http://www.citywire.co.uk/personal/-/news/money-property-and-tax/content.aspx?ID=354779
 
West Bromwich Buidling Society closes final salary scheme.

http://www.citywire.co.uk/Personal/-/news/money-property-and-tax/content.aspx?ID=350127