UK- Insurance giant Aviva is to make staff across its UK operations contribute to their defined contribution pension fund for the first time.
But from July staff will have to contribute at least 1% of salary, and from next April the contribution increases to 2%.
The owner of Norwich Union said it will increase its maximum contribution to the scheme from 12% to 14%. Staff who contribute 8% of their salary to the scheme will gain the highest company contribution.
A spokesman for Aviva said the new terms would only apply to workers in the UK.
He said: "We want to make sure that our staff pension scheme remains not just adequate but attractive. We believe we have a responsibility to encourage a responsible level of pension saving among our staff."
The company also confirmed it is to ask more than 7000 members of its defined benefit scheme to increase contributions or consider leaving the fund.
The move comes a day after US insurance firm Aon announced plans to cut employer contributions to its UK pension by up to half as part of its plan to tackle the recession. (Global Pensions, 8 April 2009)
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