UK - British Polythene Industries is imposing a pay freeze and boosting pension contributions in a bid to stem a spiralling £11m deficit in its scheme.
BPI will increase employer contributions from 6% to 16% – at a cost of £1.8m per year – to save its current pensions arrangements. The firm, which unveiled the plans in its preliminary financial...
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
