Morrison Plans Pension Savings Plan for Employees, FT Says

WM Morrison Supermarkets Plc 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.