No salary or bonuses for you
Frankenfirm DXC Technologies is proposing to kill off the final salary pension scheme for former EDS staff and will refuse to fund pay rises and bonuses to those affected who do not sign over to the new package.
This will impact 99 active members of the EDS 1994 pension plan and 1,119 people that are on the EDS Retirement Plan.
A two-month consultation about the recommended changes began on 1 September.
In a mail to staff – seen by The Register – UK and Ireland boss Nick Wilson confirmed that impacted employees will no longer build up a Defined Pension benefit.
“With effect on and from 1 December, you would be automatically enrolled and have the opportunity to build up Defined Contribution benefits… this would put you on the same terms for future pension build-up as most other Enterprise Services employees.”