US - Continental Airlines significantly over funded its pension liabilities in 2007, contributing almost US$150m more than the plan minimum, with an additional $130-200m of plan payments announced a few days ago.
According to figures released today, Continental used the accounting surplus to record a non-cash tax charge of an additional $70-140m. This was on top of $60m in cash announced last week.
Overall in 2007, Continental paid $336m in contributions to its pension plan, far higher than the required minimum of $187m.
Also, aircraft producer and military contractor Boeing has seen its credit rating revised to from 'positive' to 'stable' by ratings agency Fitch. The company said the re-evaluation was due to delays over the delivery of the 787 jet.
However, Fitch affirmed that in Boeing's favour was the over funded status of its pension plan and strong liquidity.
The Pensions and Lifetime Savings Association (PLSA) has announced it will shrink its board by more than one-third as part of a governance overhaul to make it "agile and more appropriate".
Smaller FTSE 350 defined benefit (DB) schemes were nearly 15 percentage points less well-funded than larger schemes in 2017, according to a Goldman Sachs Asset Management (GSAM) analysis.
The advent of collective pension systems could help the UK avoid demographic challenges which will make it "impossible" for society to help savers in retirement, experts say.