16th Oct 2013 10:43
LONDON (Alliance News) - Supply-chain solutions provider Wincanton PLC Wednesday said it plans to consult its employees over the proposed closure of its defined-benefit pension scheme.
Wincanton said that current active members of the scheme, approximately 7.5% of its total workforce, will be offered alternative pension provision within the group's range of defined-contribution pension arrangements.
Subject to the consultation, Wincanton said it expects the proposed change to take effect from April 1, 2014.
Pension benefits built up to the proposed date of closure will be preserved, it said.
The stock closed at 114.10 pence Wednesday morning, up 0.60p or 0.5%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
Copyright 2013 Alliance News Limited. All Rights Reserved.
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