UK: Britvic silent on pension saving
The Britvic pension plan has both a defined benefit and a defined contribution section
Britvic has remained silent on the savings it will make on the closure of future accruals to its UK defined-benefit pension scheme.
A Financial News report said today (13 June) that the closure will save Britvic GBP13.8m (US$22.5m). However, the company declined to comment when contacted by just-drinks.
In December 2010, Britvic announced that it would begin a consultation with UK employees over the closure of the defined-benefit section of the Britvic Pension Plan (BPP) to future accrual for active members.
The defined-benefit section of the BPP has been closed to new members since 1 August 2002. All staff employed since then have been eligible to join the defined-contribution section only.
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