Airport to axe final salary pension scheme
18.06.10
A 3 month consultation has been launched on the closure of Birmingham Airport's final salary pension scheme, after it ran up a deficit of about £26m, the Express & Star reports. The move would see future benefits aligned to personal contributions rather than final salary earnings.
The scheme is one of the most generous of its kind with workers enjoying company contributions of over 20%. John Partridge, regional official Unite, which is fighting to save the scheme, told the newspaper: ‘We have put proposals to the airport that they should maintain the final salary scheme. We would be willing to go to our members and ask them to pay more in contributions There is a £26m deficit and they are trying to pay it back at £2.8m a year.'
‘There are 397 active members in the scheme. The consultation period is scheduled to run until July 26, and they hope to wrap the scheme up by October. We have put proposals to the company to keep it going.'
Add to: del.icio.us | Digg it | Newsvine | NowPublic | Reddit
To book birmingham airport hotel or birmingham airport car park at the lowest price click on these links to birmingham airport car parking and birmingham airport hotel price comparison pages.
