Wednesday July 8, 2020

Aviva Ireland to close defined benefit plan

UPDATE: Insurance company Aviva is to close its defined benefit pension scheme in Ireland next month with the backing of union UNITE.

24th April, 2013
Aviva: to close defined benefit plan.

Insurance company Aviva has confirmed it is to close its defined benefit pension scheme in Ireland next month with the backing of union UNITE.

A spokeswoman said staff would transition to new defined contribution arrangements on May 1st. The scheme had been closed to new staff members since 2001.

The plan had a stg£371 million deficit at the end of last year, according to Aviva's annual report.

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