2011 Pension Changes

Consultation commenced 3 June 2011 with a meeting of the Pensions Consultative Council. Lafarge proposed that, from 31 October 2011:

  • The Final Pay Section would close to future service accrual and you would become a deferred member.
  • You would be able to join PensionBuilderplus, the defined contribution (DC) section of the Plan, from 1 November 2011.
  • You would no longer be contracted-out of the State Second Pension (S2P) and will instead build up additional State Pension.
  • There will be changes to the way ill-health and death benefits are calculated.

The changes will affect all contributing members of the Final Pay Section. Contributing members of the Final Pay Section, stopped building up pension in the Final Pay Section on 31 October 2011 and joined PensionBuilderplus, the DC section of the Plan from 1 November 2011.