Honeywell International will take on the bulk of Melrose Industries' defined benefit (DB) pension schemes with the £3.3bn acquisition of its Elster business.
According to Melrose' interim results - published yesterday - the schemes being transferred have combined liabilities of £882m and an accounting deficit of £134m. Honeywell's UK arm will become the...
DB scheme consolidator Stoneport hopes to get 100 schemes signed up by the end of next year, but employer covenant will be vital, chief executive Richard Jones tells James Phillips.
The outlook for future longevity in the UK has not necessarily worsened as a result of the coronavirus pandemic, Aon says.
Mitchells & Butlers has deferred £13m of deficit recovery contributions (DRCs) after tier four Covid restrictions wreaked havoc across the hospitality sector.
British Airways (BA) has deferred deficit recovery contributions (DRCs) totalling £450m following an agreement with trustees after a catastrophic year for the airline industry.
Jump from 554 in 2019