2nd Sep 2008 07:00
2 September 2008
St Ives plc - Changes to pension arrangements
St Ives plc ('the Company') today announces that, following appropriate consultation with Trustees and employees, it has closed the St Ives defined benefits pension scheme ('the Scheme') to future benefits accrual from 31 August 2008. The Scheme was closed to new entrants on 6 April 2002.
The Company has invited all members of the Scheme to join a new defined contribution pension scheme from 1 September 2008. In addition, the Company has made a lump sum contribution of ‚£20 million into the Scheme in order to reduce the existing Scheme deficit.
For further information please contact:
St Ives plc 020 7928 8844
Brian Edwards, Chief Executive
Matt Armitage, Finance Director
vendorRelated Shares:
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