Brick maker Ibstock is consulting on closing its defined benefit (DB) scheme to future accrual, potentially affecting 40% of the company's UK staff.
The scheme had an actuarial deficit of £19.4m on 30 June, according to its interim report published on 5 August. This is in contrast to a £17.4m surplus recorded on 31 December 2015 on the same act...
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
