So yet another Defined Benefit Scheme closes to future accrual. The Alliance Boots Scheme has announced that it too is joining the exodus from excellent, albeit unaffordable, pension provision into the less risky (from the employers perspective that is) Defined Contribution arena.
Really we should not continue to be surprised every time a ‘household name’ takes this decision. It is as inevitable as the Brits losing at every sport they turn their hands too (except maybe cricket on a good day or snooker but the first is boring and the latter not really a sport at all – and is boring – hm, I detect a pattern developing…)
Jennie advises large multi-employer schemes as well as smaller single employer arrangements and has wide experience of both Defined Contribution and Defined Benefit schemes. Jennie qualified in 1986 originally as a criminal prosecutor. She sits as a Magistrate in her local justice area and is an Approved Chairman and Deputy Chair of the Bench Training and Development Committee. Jennie was formerly Legal Director of the Occupational Pensions Regulatory Authority. When her busy practice allows, Jennie likes to indulge her passion for travelling. To consult Jennie on any corporate Pensions matter, please call her on +44 (0)20 7749 2700 or send her an email by clicking below: