The aggregate deficit of the UK's defined benefit (DB) schemes rose to £450bn over the course of November, PwC's Skyval index has recorded.
At the end of the month, the combined liabilities on the funding measure used to calculate sponsor contributions was estimated to be £2trn, while assets totalled £1.6trn. The deficit was £40bn larger...
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the February 2021 estimates on the various measures…
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.