Royal Bank of Scotland's decision to make cuts to its pension benefits saved it £2.15bn in Q4 last year, its 2009 annual results reveal.
In August, last year the bank decided to cap future increase in pensionable pay to 2% a year or the rate of inflation, which ever is lower - a decision described as a "body blow" by union Unite (PP...
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
