UK - London Underground has revealed a £250m FRS17 deficit on its £3.26bn pension scheme for the year ending March 31.
The firm attributed the deficit to the fall in equity values globally.
Last year the scheme’s equities and managed/unitised funds were valued at £2.6bn, or 77.1% of its total assets. This year its equities portfolio is worth £2.22bn, or about 68% of the scheme.
Its annual accounts also revealed that its scheme has increased its allocation to fixed income from £772m to £996m (30.5% of the fund) over the year.
The registration deadline for the Workplace Savings & Benefits Awards 2019 is today.
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The Pensions Regulator (TPR) has granted Now Pensions a six-week extension for its master trust authorisation application after the 31 March deadline, PP can reveal.