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Voluntary sector staff facing final-salary pensions crisis

Workers across Scotland’s voluntary sector are the latest to be hit by the crisis in pension funding, with hundreds of staff losing their final salary scheme in a few months’ time.

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Simon Bain

The Scottish Voluntary Sector Pension Scheme (SVSPS) is to close to new money from next April, forcing 140 organisations ranging from small housing associations to the Scottish Youth Hostel Association to look for alternative pension arrangements for more than 2500 employees.