Lloyds Banking Group (LBG) is consulting with scheme members on removing pensionable pay increases for active members of its defined benefit (DB) schemes.
It has proposed to scrap the current maximum 2% per year increase entirely from April 2014. LBG runs 10 schemes, with a total of 335,000 members and assets under management of around £20.6bn (PP...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership for 12 months, providing you access to:
- 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
