Asda petitioned by 2,000 workers over 'unfair' planned DC reforms

James Phillips
clock • 1 min read

Supermarket giant Asda's plans to reform its pensions have been decried as "unfair, unreasonable and unnecessary" as the workers' union began talks with the employer.

The plans would see current employer contributions to the defined contribution (DC) ‘Step Up' scheme, which match employee contributions up to 3%, be cut to the minimum legal requirement of 2% unde...

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

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

James Phillips
Author spotlight

James Phillips

Professional Pensions journalist from 2016-2022

More on Defined Contribution

UK will become 'global innovator' in retirement income solutions, People's Pension says

UK will become 'global innovator' in retirement income solutions, People's Pension says

CIO predicts UK will be ‘country to watch’ when it comes to retirement products

Martin Richmond
clock 27 June 2025 • 1 min read
Savers' knowledge of four pillars of DC pensions remains 'critically low'

Savers' knowledge of four pillars of DC pensions remains 'critically low'

Nearly half of DC savers have never checked how much they have saved into their pension

Martin Richmond
clock 27 June 2025 • 4 min read
Analysing Pathway 3 products: Is the solution to decumulation already here?

Analysing Pathway 3 products: Is the solution to decumulation already here?

Pete Osthwaite compares the solutions offered by number of FCA Pathway 3 (drawdown) providers

Pete Osthwaite
clock 26 June 2025 • 7 min read
Trustpilot