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Final Salary Pensions Under Threat?
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Date: 27th Apr 2009
LTU has asked the Bank for a written guarantee that the Lloyds Banking
Group will keep open the Lloyds Bank No 1 and TSB Bank No 2 Pension Schemes to future accruals (jargon for future benefits) and preserve in their entirety the benefit structures of the two schemes.
In response, the Bank has said that they understand that pensions are an important element of the reward proposition and don’t have any firm proposals for changes to the various schemes at this stage. Pensions, like all terms and conditions, will be looked at as part of the work on harmonising the terms and conditions between HBOS and LTSB.
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