UK - The Nestlé UK Pension Fund is changing its defined benefit scheme from a final salary to career average.
The food products manufacturer has entered into a period of consultation with employees regarding the proposed changes.
The company said changing the DB scheme from final salary to career average will ensure the long-term sustainability of its pension arrangements and enable it to continue to operate effectively and efficiently as a business.
Nestlé UK will continue to offer both DB and defined contribution options to both existing and new employees.
Chief executive and chairman Paul Grimwood said: "Pensions are an important part of Nestlé's employee reward package. We are committed to providing quality pension provision in order to attract and retain the best people and are confident that our scheme will continue to be one of the best."
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