Company cuts final salary pension scheme

Fri, 15 May 2009

Like many other companies, computer firm Fujitsu Services will now close its final salary pension scheme . The scheme has long been closed to new pension holders, but will now be shut for existing staff.

Fujitsu were reported as calling the move: "a prudent step to enable us to manage the pension risk." The company now plans to consult with 4,000 of its staff who remain in the scheme.

The national officer of Unite, Peter Skyte, reportedly said that members of the union would campaign against the closure. He reportedly said: "Fujitsu Services is a highly profitable company and made £177m profit in the last financial year. The company has yet to produce any proper justification for this latest attempt to raise profits by cutting pension benefits ."

Final salary pension schemes are rapidly becoming a thing of the past.
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