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Morrison Plans Pension Savings Plan for Employees, FT Says

WM Morrison Supermarkets Plc (MRW) is planning a new pension savings plan for its employees that will offer guaranteed returns linked to an indicator such as interest rates, the Financial Times said.

Morrison employees will pay 5 percent of their salary into the program and the company will contribute 9 percent, the newspaper said, citing an interview with Norman Pickavance, group human resources director at the smallest of the U.K.’s four main grocers.

To contact the reporter on this story: Lars Paulsson in London at lpaulsson@bloomberg.net

To contact the editor responsible for this story: Lars Paulsson at lpaulsson@bloomberg.net

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