• Twitter
  • Facebook
  • Instagram
  • Subscribe
  • Free Newsletter
  • My Account
Tyrepress
  • 0Shopping Cart
  • NewsNews
    • Latest News
    • Company News
    • UK News
    • Product News
    • International News
    • Retreading
    • Career Tracks
    • Motorsport
    • Video
    • Tyrepress Videos
  • Data
    • Leading Tyre Manufacturers
    • Leading Retailers (UK)
    • Social Media Ranking
    • Online Branding
    • Brand Finance rankings
    • Blue Light Fleet Analysis
    • Astutus Research analysis
    • Tire Market Forecasts
  • Features
    • Goodyear to buy Cooper – special supplement
    • TPMS and Sensor Technology 2021
    • Tyre Industry Conference 2020
    • Online Tyre Business 2020
    • Kick-starting your business webinar May 2020
  • Business Directory
    • Browse Entries
    • List Your Company on the Business Directory
  • Jobs
    • Situations vacant
    • Career Tracks
  • Classifieds
  • Magazine
    • Latest Issue
    • Read Tyres & Accessories Magazine online
    • Tyres & Accessories Magazine Archive
  • Shop
    • Subscription Shop
    • Report Shop
    • Directory Shop
  • About
    • Company Profile
    • Media Information
    • Frequently Asked Questions (FAQs)
    • Legal
    • Contact Us
  • Tyre Tests
  • Search
  • Menu
You are here: Home1 / News2 / Product News3 / Goodyear Dunlop to Consult Over ‘Defined Contribution’ Pension Scheme...

Goodyear Dunlop to Consult Over ‘Defined Contribution’ Pension Scheme

Date: 11th May 2009 Author: Tyrepress Editors Comments: 0

Goodyear Dunlop Tyres UK Limited is to consult with pension trustees, trade unions and employee representatives over the introduction of a new Defined Contribution (DC) Pension scheme. According to a company statement, the proposed scheme would replace both the company’s ‘Hybrid Scheme’ (combined Defined Benefit final salary and Defined Contribution) and ‘New Hire’ DC scheme. Approximately 850 employees are in the Hybrid scheme and 70 in the ‘New Hire’ scheme.

The consultation will be on the proposed replacement of the current schemes with a new enhanced defined contribution programme. Those who are currently paying into the Defined Benefit (DB) scheme will have their accrued benefits deferred, and the company are proposing the introduction of a new DC scheme for future service to add to the members’ existing benefits.

“We are consulting on this change for several key reasons. We want to provide our employees with a valuable, sustainable alternative pension plan that is an important and attractive element in our range of market-competitive benefits. We need to remove risk in the future pension funding to help us deliver future investment and growth for the company, continuing our turnaround from loss to profitability” said Mark Brickhill, managing director, adding: “All employees will be invited to participate in a proposed new defined contribution plan from 1st January 2010, and the company will continue to contribute to the new plan. The changes do not affect the 13,221 existing pensioners and current deferred members.”

Related news:

  1. Goodyear – Hero Wanted
  2. Goodyear Dunlop Exec Awarded ‘Market Leader’ Opportunity
  3. Two New TruckForce Regional Managers
  4. Goodyear Ploughs its Way to the Championships
Comments

Leave a Reply Cancel reply

Connect with:
Facebook Google Twitter

Your email address will not be published. Required fields are marked *

Share this entry
  • Share on Facebook
  • Share on Twitter
  • Share on WhatsApp
  • Share on LinkedIn
  • Share on Reddit
  • Per E-Mail teilen

Advert Location 348

Related Tags

Dunlop, Goodyear, Goodyear Dunlop, investment, Product News, UK, USA

Advert Location 28

Top five articles this week

Advert Location 29

© 2020 - Tyrepress
  • Twitter
  • Facebook
  • Instagram
  • WhatTyre
  • Reifenpresse
  • PneusNews
Automechanika Thailand 2010 Postponed Ferrari to Quit F1?
Scroll to top