Unions attack Nestle over pensions 'betrayal'

Michael Klimes
clock

Two major trade unions have denounced Nestle's plans to close its career average defined benefit (DB) scheme as a "betrayal" of staff.

Unite and GMB said over 7,600 Nestle workers in the UK would be affected by the closure and criticised the firm for going back on pension promises it made in 2010. Five years ago the final salar...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • 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

Join now

 

Already a Professional Pensions
member?

Login

More on Defined Benefit

Tender Watch: Hertfordshire Pension Fund appoints BW

Tender Watch: Hertfordshire Pension Fund appoints BW

Firm to deliver actuarial, benefits, and governance and fund risk consultancy services

Professional Pensions
clock 12 July 2024 • 1 min read
Professional Pensions' DB Funding Index

Professional Pensions' DB Funding Index

How the funding of defined benefit pension schemes is changing

Jonathan Stapleton
clock 09 July 2024 • 1 min read
XPS finds rise in DB transfer activity after 'record low' in April

XPS finds rise in DB transfer activity after 'record low' in April

Transfer Value Index remains stable but activity remains low

Jasmine Urquhart
clock 26 June 2024 • 1 min read
Trustpilot