Barclays could save £200m by pausing payments to staff pension scheme

Former staff voice concern after scheme’s assets plunge in value by £10bn in a year

Barclays could save itself more than £200m a year after deciding to take a break from paying into its staff pension scheme, despite the fund’s assets plummeting by £10bn in 12 months.

Barclays last month declared profits of £7bn for 2022, but its “contribution holiday” means the cost of the payments it would normally make towards former employee’s retirement benefits will now have to be met by the pension scheme – prompting anger among some ex-staff.