US - Exxon Mobil poured US$3bn into its pension scheme during the second quarter, David Rosenthal, secretary and vice president of investor relations said in an earnings call yesterday.
He said the contributions were made to meet funding requirements. The company had previously said it would make $4.6bn in pension contributions this year.
Rosenthal said: "We made about a billion in the first quarter another three in the second quarter, so we would expect...about another $600m across the balance of the year."
Exxon's US and non-US pension funds had $17.9bn in assets as of December 31, according to its most recent annual report. Assets are down 35.6% from the previous year.
Trustees lack expertise, time and resources to develop effective communications on technical pensions issues and need professional help, a major review of the British Steel saga has concluded.
In this week's Pensions Buzz, we want to know if you think trustees should consult directly with members before agreeing to a DB superfund buyout.
Thousands of savers taking tax-free lump sums ahead of retirement are at risk of a pensions shortfall in later life due to neglecting their remaining pot, Zurich has warned.
Professional Pensions is looking to update its list of pensions master trusts in the UK ahead of authorisation. Can you help?