05 May 2010
Law firm Freshfields Bruckhaus Deringer has revealed plans
to close its final salary pension scheme. The scheme
would close to future accrual from the end of
June.
The law firm said despite its best efforts to keep the scheme
viable the decision had been taken due to the rising costs of
running the scheme. There was also an issue of the increasing
inequity with the majority of employees who are not members of the
final salary scheme but instead were in the group pension scheme.
The final salary scheme was closed to new members in 2000.
A spokesman said: "Reluctantly we are proposing the
cessation of further accruals in our final salary pension scheme.
In the interest of the whole firm this is the right proposal to put
forward."
The scheme has over 200 active members and just under 1,200
members overall. Active members will be moved into the company's
Group Pension scheme.
