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
In just a few clicks you can start your free Professional Pensions Lite membership, providing you access to:
- 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
