The Pensions press seem to be astonished that the supermarket giant Morrison's is still going to offer a defined benefit pension (DB) scheme to its staff when auto enrolling begins. Now the "cash balance" scheme they will be offering is not that great, but as "Professional Pensions" points out it has bucked the trend away from DB schemes and "runs contrary to the predominant theory that the decline of defined benefit provision spells doom for retirement incomes".
So well done to Morrison's who seem to be proving that they actually are a company that does pride itself on its business ethos. They obviously do not want their 115,000 employees to end their days dying in abject poverty.
Unlike their so called "ethical" rivals methinks?
Modern Defined Benefit Schemes are as valid and affordable now as they have ever been.
So well done to Morrison's who seem to be proving that they actually are a company that does pride itself on its business ethos. They obviously do not want their 115,000 employees to end their days dying in abject poverty.
Unlike their so called "ethical" rivals methinks?
Modern Defined Benefit Schemes are as valid and affordable now as they have ever been.
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