Aviva and RAC to close final salary schemes

clock •

Aviva has confirmed plans to close both the Aviva and RAC final salary schemes to future accruals.

The 7600 employees affected will be consulted on proposals to switch to the firm's staff money purchase arrangement from April 1, 2011. There are no changes for retired and deferred members. Avi...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

More on Defined Benefit

DB scheme funding levels see gains at start of 2025
Defined Benefit

DB scheme funding levels see gains at start of 2025

Broadstone finds fully hedged scheme deficit fell to lowest level in three years in January

Martin Richmond
Martin Richmond
clock 06 February 2025 • 1 min read
DB pension redress liabilities dip below 5% of transfer values
Defined Benefit

DB pension redress liabilities dip below 5% of transfer values

First Actuarial found ‘considerable drop’ in financial risk associated with DB redress

Holly Roach
Holly Roach
clock 05 February 2025 • 2 min read
Government plans to extract DB surplus 'go much further than most realised', says LCP
Defined Benefit

Government plans to extract DB surplus 'go much further than most realised', says LCP

Consultancy analysis finds government plans to extract DB surplus could be worth £160bn

Martin Richmond
Martin Richmond
clock 03 February 2025 • 2 min read
Trustpilot