Sentence examples for defined pension scheme from inspiring English sources

It also said the group's pensions deficit would be closed, with a 10% stake passing to its "defined pension scheme and ultimately the Pension Protection Fund".

The government predicts increased income tax receipts of up to £1.2bn in 2018-19, based on an assessment that 30% of people in defined pension contribution schemes will opt to take out their pension at a faster rate than via an annuity.

Governments determine pension schemes, which are defined by the minimum requirements to obtain a pension: the number of years contributing to the system, the minimum age, and the replacement rates.

It confirmed it was in consultation with staff about replacing its defined benefit pension scheme with a defined contribution scheme.

A defined contribution pension scheme is set up by the employer, and he or she must contribute to the scheme.

Employees in the UK, the Republic of Ireland, Thailand and South Korea all have access to a defined benefit scheme at the moment, with 95% of the defined benefit pension scheme deficit coming from the UK scheme.

It is also in talks with unions about plans to close its defined benefit pension scheme.

Andy Furey, a CWU official, said: "CWU is completely opposed to the closure of the Post Office defined benefits pension scheme.

Graduate recruits are also eligible for a performance bonus and can participate in a defined benefit pension scheme.

Final salary pension closed The group also announced that its defined benefit pension scheme will be closed to new entrants from November.

In last month's announcement, Lewis said Tesco was shelving plans for 49 new stores and ditching its defined benefit pension scheme to cut costs.