final salary

The Communication Workers Union (CWU) has proposed a major shake-up of its defined benefit (DB) provision, despite threatening industrial action at Royal Mail for planning similar changes, PP can reveal.

AA has launched a consultation with its final salary scheme members to revalue benefits in a career average section.

Unions have urged workers in the nuclear sector to accept planned pension reforms after "breakthrough" discussions with the energy minister, Jesse Norman.

Wealth manager Rathbone Brothers will close its defined benefit (DB) scheme to future accrual and axe the final salary link after its deficit ballooned following the EU referendum.

Plans to reform pensions across the Nuclear Decommissioning Authority (NDA) to bring them in line with public sector changes are being opposed by trade unions.