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Boots Pension Concerns: PDA Investigates Unsettling Changes - 0 views

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shared by pharmacybiz on 12 Dec 23 - No Cached
  • pharmacybiz on 12 Dec 23
     
    The Pharmacists' Defence Association (PDA) is probing major concerns arising from Boots' communications to pharmacists regarding the company's recently announced pension arrangements. In November, Walgreens Boots Alliance (WBA), the parent company of Boots, transferred the Boots employees' pension scheme to the financial service provider Legal and General (L&G) in a £4.8 billion deal. Boots notified staff that terms allowing an unreduced pension from age 60 have ceased immediately, following its agreement with L&G. The PDA highlighted member concerns regarding Boots management's announcement that an unreduced pension from the age of 60 is a discretionary benefit and not guaranteed under the Boots Pension Scheme (BPS), contrary to some members' assumptions.
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