The IT firm, Fujitsu Services, has announced it is closing its final salary pension scheme to existing members. It was closed to new joiners in 2000.

The union, Unite!, centred around the firm’s Manchester site, has condemned the plans. Peter Skyte of Unite! said:

Fujitsu Services is a highly profitable company and made profits of £177m in the last financial year. The company has yet to produce any proper justification for this latest attempt to raise profits by cutting pension benefits, and this action may hinder future bids for blue chip private sector outsourcing contracts.