UK - Workers at Peugeot's Ryton plant have accepted a last-minute pay offer which includes phased increases in their pension contributions.
The car manufacturer has agreed to stagger the one percentage point increase, which will take employee contributions from 4% to 5%
Rates will rise half a percentage point in October and a further half a point 12 months later.
T&G union national secretary Dave Osborne blamed management intransigence which led to a one-day strike at the plant last month.
He said: “This could have been sorted out weeks ago. It is only of late that common sense has prevailed on the part of management in tabling a new offer.”
Canada Life has signed a £351m bulk annuity contract insuring the pensioner liabilities of 2,510 members and dependents in the AA UK Pension Scheme.
In this week's Pensions Buzz, we want to know if you believe there is ever a case for combining retirement savings products with other savings products, and if the PPF levy for sponsorless schemes is appropriate for DB consolidators.
The Insolvency Service has disqualified four directors of trustee firms from running companies for a total of 34 years following an investigation.