UK - Trade unions are taking action to ensure Coats Viyella employees will retain access to a final salary scheme when the company sells off several of its UK divisions.
Transport and General Workers’ Union national organiser for manufacturing Peter Booth has met with the textile company’s senior directors and told them members want their pension scheme to remain a priority for any prospective buyers.
Booth said: “We have been in this position before.
“Then we were able to obtain assurances about the future of the final salary pension scheme in the event that the businesses were sold – today we are seeking those same assurances.”
Standard Life has increased exposure to risk assets in three out of five funds in its Active Plus and Passive Plus workplace pension ranges.
Some 48% of employers are unaware of the services or help they offer to members of their defined contribution (DC) schemes, according to Aon.
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