TUI Travel is in advanced negotiations with its scheme trustees over plans to merge four of its six defined benefit schemes to tackle its £431m deficit.
The tour operator - which owns the Thomson and First Choice brands - has already capped pensionable pay increases at 2.5%. Its interim results, released today, said the move had shaved £63m off its...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership for 12 months, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here
