Somerfield takeover will have to support pensioners - papers 7th July

Somerfield currently has a pension deficit of £112m so the firm has agreed a deal with its pension trustees to increase its contributions to £11.7m a year over the next six years. Any takeover would therefore see the pension scheme trustees trying to negotiate a better deal again, as finance director David Cheyne said: "It is the commitment of the company for the next six years. Any person buying into the company buys into that commitment unless agreed otherwise with the trustees." MORE THAN A THIRD of people are unhappy with the service they get from their bank but only 5% have moved...