Only a final few left in private sector DB

Pow, Helen
June 2009
Money Marketing;6/11/2009, p23
The article reports on the elimination of the salary pension schemes by Barclays PLC and BP PLC in Great Britain. BP announces that it will no longer offer defined-benefit (DB) scheme to its new employees, meanwhile, Barclays reveals to introduce defined-contributions and end the provision of accrued pension starting December 2009. It reveals that the move of both companies aims to reduce costs in times of the economic crisis.


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