Thomson Reuters to change pension benefits - report

Eligible pension plan members who do not choose either option will receive annuity payments under the regular pension structure. Immediate annuities will result in reduced payments to account for the longer period of time of receiving expected benefits, it said.

Pension plan members who are vested, no longer work at Thomson Reuters as of 30 June and have not started receiving any pension benefits from the company will have four weeks – from 3 October to 1 November – to decide.

The Thomson Reuters Group Pension Plan had $1.5 billion in assets as of 31 December 2010, according to its most recent filing, Pensions & Investments said.

The website was unable to get a comment from the company, saying Diane Gasser, senior vice president, rewards, did not return a telephone call by press time, Andrew Perrin, vice president, treasury, and global head of pensions and investments, could not be reached, and David Girardin, corporate spokesman, could not provide further information.

Postscript: Andrew Luck, Thomson Reuters’ UK pensions manager, said the change applies only to the Thomson Reuters Group Pension Plan in the United States. ■