Features: Pensions
Shell ends integration
Oil giant Shell is following in the footsteps of its main rival BP Amoco and is abolishing integration in its pension scheme. The £400m-£500m cost will be met from the scheme's surplus.
A legal challenge against integration may be heard shortly in the High Court following the resolution of the key part-time workers' case (see last month's news and equal pay article on page 8 this month). The Shillcock case involves a part-time woman worker denied access to an integrated pension scheme because her earnings were below the lower earnings limit.