Business
Pensions
Pensions.
About this update from Restore Plc
[{"type":"text","content":"\n Radstone Technology PLC\n22 June 2006\n\n\n\n\nImmediate Release 22 June 2006\n\n\n\n Radstone Technology PLC\n\n Pensions\n\n\n\nFollowing extensive consultation with the trustees of its defined benefit\npension schemes, Radstone Technology today informed employee members of the\nschemes of its intention to cease accrual of further years of pensionable\nservice from 31 March 2007. The schemes' link to final salary will remain in\nplace\n\n\nAn alternative defined contribution scheme will be established under the current\ntrusts, which all members of the existing schemes will be invited to join. In\naddition, the Company will make a £1.7m payment into the fund in the current\nfinancial year, towards the objective of eliminating the pension deficit over\nthe next 10 years. The pension deficit measured under IAS19 was £6.6m net of\ndeferred tax at 31 March 2006.\n\n\n\n\n\nFor further information:\n\n\nRadstone Technology 01327-359444 \nJeff Perrin, Chief Executive Web: http://www.radstone.co.uk \nKevin Boyd, Group Finance Director \n\n\n\nBuchanan Communications 020 7466 5000 \nTim Thompson or Nicola Cronk Email : [email protected] \n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n ","length":1461,"tagName":"div"}]