SEVERAL hundred Standard Life employees are expected to attend an open meeting on the company's proposed pension changes organised by the Amicus trade union today in Edinburgh, says the Scotsman .
Standard Life started a formal 90-day consultation on its plans, with more than 7,000 staff on Monday 22nd, as it wants employees who have a pension at retirement based on their final salary to switch to one based on their average salary over the course of their career. One of the sticking points is likely to be Standard Life currently negotiates with staff associations rather than recognising trade unions, such as Amicus, but all employees are allowed to attend today’s meeting. AT THE SAME TIME, Marks & Spencer has announced it is watering down its final salary pension arrangements for i...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes