By STEVE HAWKES, Business Editor: 6 January 2012
SHELL is to scrap final salary pensions from 2013 despite making billions in profits.
The oil giant will close its scheme to new recruits in two years.
All existing staff will be kept on final salary benefits for now.
The move means that every UK company in the FTSE 100 has now scrapped the generous retirement packages.
It came as the UNITE union revealed thousands of health workers had “unanimously rejected” government calls to cough up more money for their own saving pots.
Matthew Sinclair at the TAXPAYERS ALLIANCE said Shell’s action showed a huge divide between the public and private sector. While the Government is £990 billion in debt, Shell is expected to post annual profits of almost £17billion for 2011.