Globally, defined-benefit retirement plans are becoming a thing of the past and defined-contribution plans more widely accepted as the preferred alternative, a trend that could spur inquiries from international employer clients.
Just 6% of multinational employers say defined-benefit plans are the best way to provide pension benefits to employees, while 90% intend to use a defined-contribution plan as the primary form of retirement benefits, according to a recent PricewaterhouseCoopers (PwC) survey of multinational companies. Seventy-one percent intend to freeze defined-benefit accruals for all workers, the survey also found.
