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Business performanceLatest NewsEconomics, government & businessPay & benefitsPensions

Trinity Mirror newspapers to close final salary pension scheme

by Personnel Today 9 Nov 2009
by Personnel Today 9 Nov 2009

Newspaper group Trinity Mirror is to close its final salary pension scheme.

The scheme’s deficit is said to have risen from £37m in 2001 to £275m last June.

In an e-mail to staff last week, Trinity Mirror said: “The Group is… proposing to close the defined benefit pension schemes to future pension build-up.

“Current contributing members would no longer build up future benefits in their defined benefit scheme.”

The final salary pension scheme was closed to new members in 2002, the BBC reported.

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The National Union of Journalists condemned the announcement as the latest in a series of attacks on staff.

Paul Holleran, NUJ Scottish secretary, said: “The scrapping of the final salary scheme is the latest in a long line of attacks on staff at Trinity Mirror and serious questions need to be asked and answered about the capability of the senior Trinity directors.”

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