Tuesday, August 22, 2006

Companies are scrapping pension plans; social security is in dire straits

For the auto giants, General Motors and Ford, it has been one of the worst nightmares; even some of the big airliners are not being spared. Well, companies are making sure that it doesn’t trouble them again, not even in their dreams. It’s now being observed that more and more companies are moving from the defined benefit to defined contributions; a development that might prove incapacitating, both for employees and the employers.

For complete IIPM article click here

Source:- IIPM Editorial, 2006

Editor:- Prof. Arindam Chaudhuri.