Private sector pensions shut down at record rate: Millions face working into their 70s for paltry payouts

Private sector pensions shut down at record rate: Millions face working into their 70s for paltry payoutsOnly 13 per cent of new recruits at companies will get a 'final salary' pensionThe figure is dramatically down from the 43 per cent of new recruits in 2005National Association of Pensions Funds highlights a pension apartheid By Becky Barrow PUBLISHED: 02:24 GMT, 28 January 2013 | UPDATED: 02:24 GMT, 28 January 2013 Gold-plated pensions in the private sector are being shut down 'at the fastest rate on record', a report by the National Association of Pensions Funds warns today.