Barclays, BP and Morrisons are the latest big companies to move away from defined-benefit pension schemes. What do their replacement plans tell us about the future of pension provision?
James Brockett
Publication date:
18 June 2009
Source:
People Management magazine
Page:
12
The future of pensions has been further called into question after three FTSE-100 firms announced reforms to their defined-benefit (DB) schemes in the space of a week.BP is shutting its final-salary scheme to new members, while Barclays and Morrisons are closing theirs for existing members and implementing alternatives.
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