UK - Scottish and Newcastle (S&N) has announced plans to retain its final salary scheme for existing members, however from April they will be required for the first time to contribute to the scheme.
Following a period of consultation with employee representatives, it has been agreed members of the final salary scheme, which closed in 2003, will contribute 6% of pensionable pay. It is believ...
To continue reading this article...
Join Professional Pensions
- Unlimited access to real-time news, analysis and opinion from the industry
- Receive our in-depth monthly magazine in either print or digital format
- Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
- Receive important and breaking news stories selected by the Editors in our daily newsletter
- Hear from industry experts and other forward-thinking leaders
- Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date