Tesco could close pension scheme

2015-01-07T18:06:29-08:00January 7th, 2015|Categories: Pension Funding|Tags: , |

One of the last defined-benefit pension schemes in the private sector is under threat because of the crisis that has engulfed Tesco. Dave Lewis, chief executive of Tesco, is considering closing the retailer’s defined-benefit pension scheme to new members as part of his plan to shore up the company’s battered balance sheet. Tesco’s pension scheme is one of the biggest in the country. It has 350,000 members, including 203,000 active members of staff. The scheme is famously generous, offering a [...]