14 November 2006
Commercial broadcaster ITV is to close its final salary pension
scheme to existing members, according to the Daily Telegraph.
The move, designed to ease ITV's £325m pension deficit,
would affect about a quarter of the firm's 6,000 staff.
The report of the reform plan comes days after ITV received a
tentative merger approach from NTL.
Analysts said that cutting the pensions liability would make ITV
more attractive to potential buyers.
Under new plans, an estimated 1,500 existing staff would be paid
a pension based on their career average earnings, rather than a
proportion of their final salary.
Broadcasting unions are expected to fight the proposals.
