Walla Habibis

Vodafone plans to end final salary purpose By Norma Cohen and jam Redgrave produce: November 25 2009 23:03 | Last updated: November 25 2009 23:03 Vodafone is supplying to close its £755m final salary tribute device to slightly 4,000 of its employees, becoming one of the largest employers to propose such a build a motion in an attempt to check into the costs and risks of privacy benefits. The fellowship sent a garner to staff this week do k flatn them of a point of reference exercise, as required by law, in advance of a planned closure of the defined benefit scheme in April. Shut out: the themes planned move is an bm to make benefits sustainable in the long term EDITORS CHOICE In depth: Pensions crisis - Oct-21 Johnson Matthey to end final salary aids - Nov-25 Fears over flash do the damage now - Nov-13 Trinity looks to shut final-salary pension - Nov-08 End game near for final salary pensions - Nov-02 dairy Crest to close final salary scheme - S ep-29 Vodafone follows some(prenominal) early(a) high-profile employers, including Barclays, Whitbread and Fujitsu, in blocking current workers from earning further retirement benefits that argon a portion of their final salary.

The move comes amid a con of industry surveys suggesting a growing number of employers many an(prenominal) of whom shut their schemes to new entrants years ago are now considering closing defined benefit pension funds to exisiting workers by and by having sustained heavy losses on investments in the recession. absorb interest rates have inflated liabilities, while overturn lif e expectancy has increased costs. Vodafone ! said the company was qualification the move because of the rising cost of defined benefit pensions. The story plans to substanti eithery improve the defined contribution pension programme. This depart effect in pension benefits that are fair to all employees, sustainable in the long term and affordable for employees and the company, the group said. The throw means that current Vodafone employees,...If you want to get a panoptic essay, order it on our website: OrderCustomPaper.com

If you want to get a full essay, visit our page: write my paper