Zurich consulting staff over pension changes
Insurer is looking at closing its final salary scheme.
Zurich is proposing to close its final salary (defined benefit) pension scheme.
The insurer confirmed it is consulting its UK employees on stopping the building up of future benefits in the final salary section of its pension scheme.
According to the provider the move is needed to reflect the low level of interest rates and the fact that people are living for longer.
The insurer said these factors have had a huge impact on the cost of occupational schemes and the proposed changes would help
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