DSG International to close final salary scheme to future accrual

DSG International – which owns high street retailers Currys and PC World – will be closing its final salary scheme to future accrual.

The firm is currently in consultation with scheme members about the changes which are part of efforts to reduce the costs and risks associated with providing a defined benefit pension.

A spokesperson from DSG International said that 2400 of the firm’s 23,000 employees will be affected by the closure of the scheme, which was shut to new entrants in 2002. 

The move comes at a time when DSG International reported an increase of sales and a profitable Christmas period. For the 12 weeks ending January 9 2010 underlying group sales were up 11% in sterling and like-for-like sales were up 8%.

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