Whitbread to close final salary pension scheme

Whitbread, the hotel, restaurant and café group, has closed its defined benefit pension scheme to existing members, the Financial Times has reported.

The move by the owner of the Premier Inn and Costa Coffee chains was announced on Friday.

It follows the closure of the scheme to new members in 2002 and will affect about 800 people – 3% of its workforce.

The group said it had carried out four months of consultation before action was taken to close its the scheme to future accruals by members at the end of 2009.

It said it would also increase its own contribution to the pensions of some defined contribution scheme members, while allowing another 14,000 staff to join the scheme.

The employer is the latest in a line of big names to close their final salary pension schemes.

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