M&S faces £127m 'sting in the tail' charge following DB closure

Michael Klimes
clock • 1 min read

Marks and Spencer's (M&S) decision to close its defined benefit (DB) scheme to future accrual from April 2017 has resulted in a £127m charge.

In half-year results published on 8 November the retail giant said the change in status of members from active to deferred means they will see an annual increase in their pensionable salary. Und...

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