Siemens will shift 6000 to DC with closure of last final salary scheme

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Technology firm Siemens is to close its remaining final salary schemes and will move around 6000 members into a defined contribution plan.

Siemens pointed out that the majority of its 20,000 UK employees had been transferred to DC schemes in recent years. Siemens will match emp-loyee contributions up to 10pc of salary but is offering...

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