EDB ErgoGroup settles dispute over DB, DC pension switch

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NORWAY - EDB ErgoGroup ASA has agreed to costs totalling some NOK9m ($1.7m) per year to settle a pension dispute with employee unions over its decision to transfer some staffers from a defined benefit to a defined contribution plan.

In September 2009, the then EDB Business Partner ASA (EDB and Ergo merged in 2010) decided to move all members in a closed DB scheme to a DC scheme in a move that would save the company NOK70m annually....

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