SCOTLAND - Forth Ports has revealed that its net FRS17 deficit has more than trebled in the past year from £6.4m to £21.5m.
The Edinburgh-based ports and property group blamed this shortfall in the year to December 31, 2002, to a massive fall in equity prices.
The company said it remained committed to keeping the scheme open but noted that member contributions would have to be increased.
The Pension Protection Fund (PPF) is consulting on proposals to charge a "risk reflective" levy for commercial defined benefit (DB) consolidation vehicles.
The funding gap across FTSE 350 schemes could be slashed by as much as £275bn if schemes look beyond traditional ways of creating value. Victoria Ticha examines how
There will be "many flavours" of defined benefit (DB) consolidators but consolidation will only be the right answer for a minority of schemes, Alan Rubenstein says.
Work and Pensions Committee (WPC) chairman Frank Field has questioned the regulator on what lessons it can learn from the experience of the Kodak Pension Plan No.2 (KPP2).