Employer Consultation: Proposed Changes to SAUL
The cost of providing defined benefit pension schemes has been rising in recent years. This increase has been due to a combination of improving life expectancy and lower expected investment returns. SAUL is no different. Also, the preliminary results of the 2011 Actuarial Valuation show that SAUL has a funding shortfall.
To resolve this, and to ensure that SAUL continues to offer high quality, affordable and sustainable benefits, the SAUL Employers and Trade Unions, UNISON and Unite, have negotiated proposed changes to SAUL from 1 July 2012.
The consultation opens formally on 10 January 2012. If you're an active member or eligible for membership you'll be able to give your views.
Please click here for the consultation document.
If you wish to add your comments to the proposal please click here (this will be available from 10 January 2012)