Lloyds Banking Group (LBG) will give all staff transferring to TSB a cash payment of 27.5% of annual salary to "compensate" them for losing access to the group's defined benefit (DB) scheme.
LBG is consulting with members of its six DB schemes about cutting the pensionable pay increases limit from the current 2% to 0% from April 2014, although annual inflation protection increases to p...
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