UK - Royal Mail is to close its final salary scheme to new employees, following consultation, and has unveiled plans to fund its £6.6bn pension deficit over 17 years.
The cost of servicing the pension fund continued to be a “major drain” on the group’s financial performance over 2006 and the £730m annual cost was said to be “threatening the company’s competitive...
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