UK’s departmental store chain, Debenhams has earned
itself a controversy. The store is planning to close its final salary pension scheme to existing as well as new members. Prior to this, there have been only three other companies in UK to have walked the same track. The argument presented by Debenhams is that the scheme proves expensive to the company. The union has already locked its horns with the company on the issue. The first two companies to initiate such a plan in UK were Rentokil and Harrods. The two had also amassed criticism for their stand.
For complete IIPM article click here
Source:- IIPM Editorial, 2006
Editor:- Prof. Arindam Chaudhuri
itself a controversy. The store is planning to close its final salary pension scheme to existing as well as new members. Prior to this, there have been only three other companies in UK to have walked the same track. The argument presented by Debenhams is that the scheme proves expensive to the company. The union has already locked its horns with the company on the issue. The first two companies to initiate such a plan in UK were Rentokil and Harrods. The two had also amassed criticism for their stand.For complete IIPM article click here
Source:- IIPM Editorial, 2006
Editor:- Prof. Arindam Chaudhuri
