Your browser is no longer supported

For the best possible experience using our website we recommend you upgrade to the newest version of your browser.

Your browser appears to have cookies disabled. For the best experience of Construction News, please enable cookies in your browser.

Welcome to the Construction News site. As we have relaunched, you will have to sign in once now and agree for us to use cookies, so you won't need to log in each time you visit our site.
Learn more

Hanson pensions safe

LETTERS

Sir, In response to your article 'Hanson staff to make up pensions shortfall' (CN, June 3).

There is no question of Hanson employees being asked to address any current deficit in our UK defined benefit pension arrangements.This remains our responsibility.

Last year Hanson made a special £25 million contribution to the UK final salary scheme.Not only was this done earlier than was required, discussions are now taking place with the scheme's trustees about additional contributions.

It is the case that the cost of providing pensions that members will earn in the future has risen significantly and it is this additional cost (and not any cost related to service up to June 30,2004) that members, together with the company, are being asked to bear a share of.

Hanson is committed to providing attractive and robust pension benefits but changes are required to protect the interests of both the existing pension scheme members and the Hanson group.

We will continue to provide defined benefit arrangements for those existing members of the pension scheme.

J C Nicholls Finance director Hanson PLC London