09 November 2009
Newspaper group Trinity Mirror is to close its final salary
pension scheme to its existing members in a move to cut costs.
The company, which owns five national newspapers including the
Mirror and Sunday Mirror, said the move was
essential since the company's pension fund deficit had risen from
£37m in 2001 to £275m last June.
The decision was announced late last Friday and will be
implemented after a two-month consultation with staff. The company
closed its final salary scheme to new members in 2002.
The pension scheme has 3,000 active members and they will now be
offered a defined contribution scheme.
