Taylor Wimpey merges pensions

Taylor Wimpey yesterday announced it has successfully merged two legacy pension schemes to create the Taylor Wimpey Pension Scheme, helping to save £800,000 in costs per year. The housebuilder said it merged the George Wimpey Staff Pension Scheme and the Taylor Woodrow Group Pension & Life Assurance Fund to create the single new scheme with £1.8bn of assets under management. The two firms George Wimpey and Taylor Woodrow merged in 2007.