Ladbrokes to close DB pension scheme

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Ladbrokes has begun a consultation to close its defined benefit (DB) pension scheme to future accrual.

Its final salary scheme closed to new members in 2007.

The betting organisation is anticipating contributions of £9.2 million this year to help reduce its deficit.

The cost of running the scheme stands at £62,500 a month.

In 2012, the organisation launched a master-trust pension scheme to comply with auto-enrolment.

A spokesperson for Ladbrokes said: “We are undertaking a full consultation and it will comment further when that process is complete.”