Nestlé has agreed a deal with trade unions to secure its £3.8bn career average defined benefit (DB) scheme after the company had tried to close it down.
The new package raises the career average pension from a 60th to 80th accrual rate for all existing members, while introducing a salary cap for pensionable earnings of £45,000 indexed to the consum...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership for 12 months, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
