UK - Engineering company GKN is considering closing its £1.5bn final salary scheme to new members in a bid to freeze rising liabilities.
The move follows GKN’s disclosure of an FRS17 deficit of £343m on its pension schemes, which it blamed on falling stock markets. GKN will inject an extra £30m into its schemes over the next thre...
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
