Biggest UK pension schemes in cash crisis - papers 14th August

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RAILWAY leaders are considering abolishing some final salary pension schemes for new staff after a r...

RAILWAY leaders are considering abolishing some final salary pension schemes for new staff after a review that is understood to have found deficits across the UK's sixth-biggest fund, says the FT. A report by actuaries to be presented today to the trustees of the £14bn Railways Pension Scheme is believed to recommend that companies and employees halt a half-contributions holiday. This would end lower payments between one and four years early, and the RMT union said some em-ployers and employees could need to increase contributions even more. Railtrack, the biggest contributor, is ...

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