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TUI Travel Plans DB Scheme Merger
TUI Travel may merge four of its defined benefit schemes to reduce its £431 million deficit.
TUI Travelmay merge four of its defined benefit schemes to reduce its £431 million deficit,Professional Pensionsreports. The tour operator has already capped pensionable pay increases at 2.5%.
The 2.5% cap will save an additional £10 million a year in ongoing servicing charges. The company is also planning to fund £275 million of the deficit using a partnership arrangement backed by its leading brands.
Click here for the story fromProfessional Pensions.