March 7, 2017 / 4:07 PM / in 7 months

Tata Steel UK closes pension scheme to new accruals from March 31

LONDON, March 7 (Reuters) - Tata Steel UK on Tuesday said it would close its final salary pension scheme to accruals from March 31 as a step towards resolving the future of its UK operations.

It said in a statement it would still be “deeply engaged” in talks with the pension scheme trustees, regulators and unions to ensure the survival of British steelmaking and a fair solution for all members of the British Steel Pension Scheme.

Reporting by Barbara Lewis and Carolyn Cohn

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