Closing Tesco pension scheme won’t cure the deficit – but perhaps every little helps!
8th January 2015 Tesco to close its Pension Scheme – won’t reduce deficit near term but every little helps! Rising pension deficit and cost reduction pressures force closure of last FTSE100 final salary scheme Artificially depressed bond yields contribute to pension losses for thousands of staff Tesco has announced, as expected, a consultation to close its pension scheme – one of the last remaining open defined benefit schemes in the private sector. Among a string of cost-cutting measures, the company…