US- Exxon Mobil has reported a jump in its pension deficit to nearly US$15bn - an increase of over 100% from the previous year.
Non-US pensions had a pension liability of $8.7bn, up from $5.3bn the previous year.
The market value of the pension funds was down to a combined $22.8bn in 2008, from $27.8bn.
At the end of 2008, the US plan had $6.6bn in assets, while the non-US plan had $11.2bn.
The firm expects to make pension contributions of $4.6bn in 2009- $3bn to the US plans and $1.6bn to the non-US plans.
The Co-operative Group's Somerfield Pension Scheme has completed a buy-in with Pension Insurance Corporation (PIC), insuring the benefits of its pensioner members.
Caroline Rookes CBE and Michele Hirons-Wood have joined The Pension Superfund's board of trustees to focus on maintaining governance standards and safeguarding member benefits.
The first specialist independent firm advising pension schemes on bulk annuities or moving to a consolidator has been set up with ambitions to shake up the market.