WH Smith closes scheme to new accruals


Despite undertaking a comprehensive programme of liability-driven investment (LDI) in 2005, the two de-merged sections of retailer, WH Smith, have closed their final salary schemes to existing members - the fourth such action by a major UK company.

WH Smith cited the unpredictable nature of future investment returns, increases in future accruals and a potential for improved longevity as adding too much uncertainty to its respective pensions funds - WH Smith, the retailer, and Smith news, the