Final salary schemes have traditionally been seen as the best type of company pension scheme so far as the employees are concerned.
Employee membership of any company pension scheme - final-salary, defined contribution or stakeholder, public and private sector - dropped to 48% last year.
Before National Insurance was introduced, people how had the benefit of a good company pension scheme did not contribute to the state pension.
Pension provision in the private sector has been in drastic decline in the past two decades, with fewer than three million private sector workers now paying into a company pension scheme.
The regulator is worried that automatic enrolment, a long-term process which started in the autumn of 2012, means that hundreds of thousands of employers, and millions of workers, will start dealing with a company pension scheme for the first time.
Given the perilous state of a great number of corporate pension funds and the firms that stand behind them, many pensioners may be better off in the hands of well-capitalised and -regulated insurers, especially as official compensation is more generous if an insurer fails to honour its obligations than if a company goes bust leaving an underfunded pension scheme.
He said the company had already removed the final salary section of the pension scheme and was now trying to "bind up what's on the table with a whole load of strings".
His whole world and that of his brother crashed down around them when their father died in November 1991 and it emerged that the company's debts vastly outweighed its assets and the pension scheme had been plundered.
In effect the newspaper group's pension scheme and its members are lending to the company, to help it through a period of intense industrial challenge.
More pension - firms would be allowed to force staff to join the company scheme.
Defined contribution schemes, where the employee builds up a pension pot via investments, are the typical replacement for a company's final-salary scheme.
In a statement, it said: "A number of public sector pension scheme administrators, including Xafinity Paymaster, were not notified of the correct GMP data, " the company said.
Not only did that make the pension scheme much more secure for its members, but the ensuing financial clarity has arguably saved the entire company from insolvency.
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