RBS to Close DB (Final Salary) scheme and UB in the Republic

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ajapale

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I see from yesterday's London Times that RBS are to close their DB (Final Salary) pension scheme. Among other things they are proposing a 15% uplift in wages to compensate for the loss.

Will this have an effect on UB employees here in the Republic?
 
The Ulster Bank pension scheme is a completely different entity to the RBS pension scheme.

UB and RBS employees in Ireland all have pensions under the Ulster Bank scheme.

The decision to close the RBS scheme to new employees won't affect the UB scheme. However, that's not to say that the same decision couldn't be made for the UB scheme now, or in the future.
 
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