BGN Entrepreneur » retirement plan http://bgnentrepreneur.net Business Growth Network Entrepreneurial - Daily Fresh Business News Fri, 25 May 2012 13:30:47 +0000 http://wordpress.org/?v=2.8.4 en hourly 1 Boots is Kicking its Employees http://bgnentrepreneur.net/boots-is-kicking-its-employees/ http://bgnentrepreneur.net/boots-is-kicking-its-employees/#comments Sat, 20 Feb 2010 10:17:30 +0000 Sky http://bgnentrepreneur.net/?p=7884
  • Half of UK’s Final Salary Schemes to Close
  • KKR’s Alliance with Boots
  • Wolverine Boots
    • ]]>     Alliance BootsAlliance Boots, backed by US buyout firm Kohlberg Kravis Roberts, become the latest in a string of FTSE 100 companies to cut down its final-salary schemes over the past year, following the movement of Barclays, BP, Whitbread, DSG International, WM Morrison and Trinity Mirror.
    The gold-plated scheme of Boots has a surplus of £188m and the company said that the move had not been prompted by any financial turmoil. Though the retirement pot maintain its robust financial health, existing staff will be shifted on to a defined-contributions scheme that puts less financial burden on the company and places the risks of market fluctuations with the employee.
    More than 15000 employees at Boots will lose their generous pension conditions after the company announced the closure of its final salary pension scheme.
    However, the 75000 employees at Boots should still feel lucky to be in any kind of pension schemes, as several other private equity-owned businesses have already laid waste to long-standing retirement plans.

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    3. Wolverine Boots

    ]]>     http://bgnentrepreneur.net/boots-is-kicking-its-employees/feed/ 0     Aviva Chief to Promote Welfare Role http://bgnentrepreneur.net/aviva-chief-to-promote-welfare-role/ http://bgnentrepreneur.net/aviva-chief-to-promote-welfare-role/#comments Thu, 28 Jan 2010 14:10:42 +0000 Sky http://bgnentrepreneur.net/?p=7696
  • Aviva Faces Potential €400m Bill for Spainish Partner
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    • ]]>     AvivaInsurers should work with European governments to negotiate a greater role for the private sector in welfare provision and funding long-term healthcare.
    Mr. Moss, who runs the biggest insurer in the UK, will tell financial leaders at the Davos summit this week that the sector is well placed to offer the kind of affordable savings and retirement policies that could be used to top up existing state provision. This would help to ease the growing burden on government finances across the Continent.
    The boss of Aviva, which is the world’s fifth-largest insurer and operating in 28 countries, said that he would be using Davos to try to tackle some of the long-term issues that have plagued the insurance industry, such as how to encourage a retirement savings culture, improve financial literacy and restore consumer confidence in the financial sector.

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