The drug firm Alliance Boots has decided to dissolve one of its two final salary pension schemes. The Pension Insurance Corporation has taken the responsibility of paying the pensions for the drug company.

In 2006 the firm named Alliance Unichem got merged with the Boots to form the new combined firm Alliance Boots. The company has said that the new scheme of pensions would ensure the security for the members for a longer period of time.

According to the new pension schemes the employer will be relieved of any increase in cost of paying for its workers’ pensions; this could be because of unexpected rises in life expenditure or poor investment returns in the future.

Alliance Boots has about 115,000 employees worldwide and it deals in drugs, health care products and cosmetic items. The company refused to clear that how many workers were affected and how much money the company was paying to get the plans implemented.

Meanwhile the Alliance Unichem has almost 3000 members and it counts liabilities of about 300 million pounds. The drug firm Alliance Boots has reportedly paid additional money to enable the plans.