Grafton directors withdraw from pension scheme

Three directors of DIY and building materials group Grafton have withdrawn from the company’s pension scheme, in a move aimed at limiting its future pension liabilities.

13th September, 2008

Three directors of DIY and building materials group Grafton have withdrawn from the company’s pension scheme, in a move aimed at limiting its future pension liabilities.

The directors - who are believed to be executive chairman Michael Chadwick, finance director Colm O’Nuallain and chief operating officer Leo Martin - have transferred to private defined-contribution pension plans, which will result in them opting out of the defined-benefit plan on offer from the company....

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