Adnams closes final salary pension

Adnams has closed its defined benefits pension scheme to all staff after it developed a funding shortfall of £9.6 million. The Suffolk brewer, which closed the scheme to new members three years ago, has replaced it with a defined contribution plan. Chairman Simon Loftus said that instead of the organisation closing its eyes, it was more responsible to take a deep breath, put in more money and create a new scheme that brings everybody together.