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Old 13th April 2006 | 19:27
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PAXboy
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Rolls-Royce proposes pensions shake-up
BBC web news
"Aerospace engine maker Rolls-Royce has announced it may close its final salary pension schemes to new members. The firm has 21,373 active members in three pension schemes, one of which has been closed to new members since 1999."

Now the other two may do likewise, with the company in return putting in a £500m lump sum across the three and increasing its contributions.

The move is an attempt to reduce the combined deficit of the schemes, which stood at £1.28bn on 31 December 2005.
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