Final salary pension scheme closure

Unilever, the food to personal care to detergents group, has announced plans to close its UK final salary pensions scheme to existing members.

The multinational has proposed a new arrangement that will see existing members offered a two-part scheme consisting of a defined benefit career-average plan plus a defined contribution (DC) investing plan.

A 90-day consultation period with staff and unions will start in June, with the aim on introducing the new scheme from the start of 2012.

The final salary scheme has been closed to new members since December 2007.