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.
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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