UK - The deficit on the £1.5bn GKN final salary pension scheme has risen to £750m, according to analyst reports.
Its gross deficit stood at £650m in August according to the company’s interim report, which also revealed that the company was considering closing the scheme to new members.
At the time GKN said it would inject an extra £30m into its schemes over the next three years, in addition to the £8m a year it had already allocated for this purpose.
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Some 79% of people would like to see stricter rules and checks to ensure pension pots are secure, according to a survey by the Pensions and Lifetime Savings Association (PLSA).
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