According to a statement, “the cost of final salary pension provision continues to increase and the Group can no longer afford to provide these benefits.
Closing these schemes to future accrual would help limit the increase in liabilities in the defined benefit pension schemes and help the Group to fulfil its commitment to eliminate the current deficit.
Current contributing members, who would no longer build up future benefits in their defined benefit scheme, would be given the choice of building up future pension benefits in the existing defined contribution Trinity Mirror Pension Plan.”
