Abstract
Given the shifting corporate policy from defined benefit (DB) to defined contribution (DC) schemes, we investigate the determinants of so-called ‘freezing’ of DB schemes. We test the reasons of pension freezing and its influence on firm performance, for all FTSE350 companies from 2009 to 2017. We find that pension plan asset is the key factor for determining the freezing of the DB plans and companies tend to close their DB scheme under a good economic state.
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