M&S changes pension funding partnership after FRRP intervention

clock

Marks & Spencer has changed the terms of its £1.1bn pension funding partnership after the Financial Reporting Review Panel expressed concerns over amendments made to the arrangements.

The retailer has waived the right to suspend the annual payment of £71.9m from the Scottish Limited Partnership to the scheme in years when the group does not pay a dividend to ordinary shareholder...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Defined Benefit

Procentia launches DB actuarial valuation system

Procentia launches DB actuarial valuation system

Provider says Intelli-ACT will improve quality of information available to schemes and actuaries

Martin Richmond
clock 17 February 2026 • 2 min read
Partner Insight: Aon UK Risk Settlement Bulletin - Q1 2026

Partner Insight: Aon UK Risk Settlement Bulletin - Q1 2026

Latest edition of the Aon UK Risk Settlement Bulletin is now available.

Aon
clock 11 February 2026 • 1 min read
Aon reappointed to LGPS framework for actuarial, benefit and governance consultancy services

Aon reappointed to LGPS framework for actuarial, benefit and governance consultancy services

Firm reappointed to lots 1 to 5 of the framework for actuarial, benefits and governance services

Martin Richmond
clock 11 February 2026 • 1 min read
Trustpilot