Alliance Boots to introduce new pension scheme in July

The health and beauty giant said in January that it was entering into consultation with employees of its UK businesses about a proposal to introduce a new defined contribution pension scheme and close its UK defined benefit schemes to future accrual for active members.

It said the new scheme will come into force with a number of significant enhancements to those originally proposed. As a result, the existing schemes will close to future accrual from that date.