UK - Northern Foods increased its employees' contribution rates into its £430m final salary scheme by 40% last year.
As well as increasing staff contributions from 5% to 7% of earnings, it also removed a number of company-funded early retirement provisions for future service.
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
Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here
