Aviva to close final salary pension scheme

Insurance giant Aviva today announced plans to shut the group’s final salary pension schemes in a blow to around 7,600 UK employees.

The group, which also owns the RAC motoring group, said it was to begin consultation in June with a view to closing its final salary pensions to both new and existing members from April 1 2011.

Aviva closed its pension scheme to new entrants nine years ago, but the RAC pension scheme, which has around 2,000 members, is currently open to new members.