Professional services organisation Deloitte is in discussions with its 19,000 UK employees to temporarily reduce their pension contributions, as a response to the Covid-19 (Coronavirus) pandemic.
Announced this week, the organisation will be consulting with its employees on the decision to reduce its pension contributions from up to 12.5% to 4.5% of an employees’ core salary.
This change will apply to all of its UK employees’ pensions for a period of 12 months, including partners who do not hold equity, Equity partners are not eligible to join the Deloitte pension plan.
A spokesperson at Deloitte said: “We’ve been closely monitoring and managing the Coronavirus situation and supporting our people and clients is a priority. We are doing all we can to protect jobs and our business in the coming months. As part of this we have started a consultation with our people on temporarily reducing our maximum employer pension contributions.”