Royal Mail plans to close defined benefit pension scheme next year

‘The company’s annual pension contributions are currently around £400m but if no changes are made that figure could more than double to over £1bn in 2018.

Royal Mail has said that it plans to shut its defined benefit pension scheme next year, as a result of a contributions squeeze.
The company, which is listed on the FTSE 100, said on Thursday that while the plan is currently in surplus, it expects it to run out in 2018.
The company’s annual pension contributions are currently around £400m but if no changes are made, the contributions could more than double to over £1bn in 2018, according to Royal Mail.’
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