A US automotive components supplier which is one of the largest employers in the West Midlands is threatening to remove its final salary pension scheme for its UK workers.
TRW Ltd – a subsidiary of the US based TRW Automotive – said there is a £500m deficit in its pension pot for its 2,700 UK workers and said stricken share prices, meaning a reduced return on investments made out of the fund, along with increased life expectancy, is to blame. The scheme will now…
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