Bank of Ireland sets out plan to eliminate pension deficit

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IRELAND - Bank of Ireland (BoI) has proposed to contribute around €800m (US$1.06bn) to its defined benefit scheme and to implement a number of measures in a bid to tackle its €1.6bn pension deficit.

The bank has also said it would put a temporary freeze on any salary increases qualifying as pensionable salary from April 2010 to April 2012. In addition, from April 2012 pension increases woul...

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