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Professional Pensions | 20 Jul 2011 | 11:19
Categories: Defined Benefit
Topics: Funding level, Db
Energy consultant AEA’s pension deficit has fallen to £122m but still stands at almost twice the company’s market capitalisation.
The firm - a privatised offshoot of the UK Atomic Energy Authority - revealed in its annual financial results, released today, that it had reduced net pension liabilities by £18m over the year.
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The firm said the improvement resulted from a reduction in the assumption on future inflation and an increase in the value of scheme assets.
The discount rate remained unchanged from 31 March 2010 at 5.6%.
The firm's market capitalisation on 31 March 2011 was £63m - up £14m from last year
AEA has an agreed schedule of contributions which sees it pay £2.4m a year at present, increasing to £6m a year from next July through to 2029.
The firm said this recovery plan has been approved by The Pensions Regulator.
Categories: Defined Benefit
Topics: Funding level, Db
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