Rathbone Brothers to close final salary scheme after Brexit volatility

Stephanie Baxter
clock • 1 min read

Wealth manager Rathbone Brothers will close its defined benefit (DB) scheme to future accrual and axe the final salary link after its deficit ballooned following the EU referendum.

The changes will come into force from 1 July after the company consulted members on its plans, which were driven by concerns over the funding gap increasing by £53.8m in just nine months. The fi...

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: Trustees of Sumitomo scheme appoint First Actuarial

Tender Watch: Trustees of Sumitomo scheme appoint First Actuarial

First Actuarial appointed to provide actuarial and administration services

Professional Pensions
clock 09 June 2025 • 1 min read
FIF25: Opportunities with DB pensions

FIF25: Opportunities with DB pensions

No ‘one size fits all’ approach to endgame, with changing allocations within DB schemes

Jasmine Urquhart
clock 04 June 2025 • 1 min read
DWP responds to WPC report on DB pensions market

DWP responds to WPC report on DB pensions market

Government confirms it will consider PPF compensation changes and consult on trusteeship, accreditation and governance

Holly Roach
clock 01 May 2025 • 4 min read
Trustpilot