27 July 2009
Lloyds Banking Group could potentially close its final salary
pension scheme to existing employees, as it reviews its total
rewards package. The review includes employees of both Lloyds TSB
and HBOS.
A Lloyds Banking Group spokesman said: "Following our
acquisition of HBOS, we are reviewing our total reward package
across the whole group, which of course includes pensions."
However, he said the group had not yet finalised proposals or
started any consultation with trade unions.
He added: "When these proposals have been finalised we will
begin consultation with the unions. This is a complex issue and
when we're in a position to do so, we'll begin consultation, but at
this stage, we're not there yet."
The spokesman was uncertain as to when the proposals would be
finalised.
