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Departmental Pensions

Volume 479: debated on Monday 21 July 2008

To ask the Chancellor of the Duchy of Lancaster on what date and for what reason the Duchy of Lancaster staff pension final salary scheme was closed to new entrants. (210872)

The Duchy of Lancaster Staff Pension Scheme was closed to new entrants with effect from 6 February 2002.

In line with a large number of other businesses, those running the Duchy estate wished to have greater certainty in the level of contribution within the business. The Duchy makes a contribution to new employees personal pension plans based upon a percentage of their gross salary.