Asda closes final salary pension scheme

Asda closes final salary pension scheme

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times Asda is closing its final salary pension scheme as it seeks to tackle a soaring deficit, in a move affecting around 4,000 of its staff, it said.The Walmart owned chain closed the final salary scheme to new members in 2005, said it would compensate affected employees with a cash sum equivalent to 25 per cent of salary.It will also make unspecified improvements to the replacement scheme for all 175,000 of its staff.Asda is the latest in a string of British companies to close a final salary pension scheme as rising longevity and turbulent financial markets drive schemes into deep deficits.The grocer said its scheme’s deficit had doubled in size to £400m over the past nine months.A government-commissioned report said public sector workers might have to pay more into their pensions and that it would look into alternatives to final salary schemes. John Dunne Friday 8 October 2010 7:33 am Tags: NULL Show Comments ▼ Sharecenter_img whatsapp whatsapp Asda closes final salary pension scheme More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comLA news reporter doesn’t seem to recognize actor Mark Currythegrio.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comFort Bragg soldier accused of killing another servicewoman over exthegrio.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comKansas coach fired for using N-word toward Black playerthegrio.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comMark Eaton, former NBA All-Star, dead at 64nypost.comlast_img

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