American Express suspends pension payments
Updated on 16 July 2009
Credit card giant announces a suspension of pension contributions for 18 months but insists it will resume payment in better economic times. Krishnan Guru-Murthy reports.
These days, we are all used to hearing bad news about the fate of final salary pension schemes.
But today brings news that even less-generous stakeholder schemes may also be under threat.
American Express has announced it is suspending contributions to its pension scheme for eighteen months.
The credit card giant insists it will resume paying contributions in better economic times.
Tom McPhail, head of research with Hargreaves Lansdown Pensions, speaks to Channel 4 News about the decision.
