US - Citigroup is set to freeze its cash balance plan in 2008 but will in turn "greatly enhance" its 401(k) offering.
Citigroup said it could increase company contribution to as much as 8% of annual pay for those employees earning less than US$100 000 - well above the current 3% contribution.
The US bank said it made the changes in a bit to place benefits on a par with those at rival companies.
Charles Prince, CEO of Citigroup, said: "We will invest significantly more in our employees under this improved approach to our retirement savings.''
Citigroup currently has around $10bn of pension assets.
This week's top stories included Cardano announcing plans to acquire Now Pensions from a Dutch pension fund later this year.
Royal Bank of Scotland (RBS) faces a £102m impact on liabilities as a result of equalising guaranteed minimum pensions (GMPs), according to its annual results.
Malcolm Mclean says getting the channels of communication right and engaging more openly is a good starting point