Pension Arrangements for current employees
Coats Pension Plan was closed to all future accrual in 2016. All current employees can join a defined contribution (DC) scheme, operated on the Company’s behalf by Standard Life. The decision to close the Plan was taken following a consultation with employees and brings Coats into line with the vast majority of other private companies. The trend in the UK market is towards DC schemes rather than DB schemes and they are now most commonly offered to new employees by UK businesses.
For more information about the DC scheme please click here.