RBS to pay £4.2bn into DB scheme on back of accounting changes

Michael Klimes
clock • 2 min read

Royal Bank of Scotland (RBS) will pay ten years' worth of pension contributions into its defined benefit (DB) plan by March following IAS-driven changes to its accounting policies.

In a trading statement, the bank said a single payment of £4.2bn would be paid into the main section of the group's pension fund by 31 March 2016, subject to discussions with the trustee. It sai...

To continue reading this article...

Join Professional Pensions

  • Unlimited access to real-time news, analysis and opinion from the industry
  • Receive our in-depth monthly magazine in either print or digital format
  • Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
  • Receive important and breaking news stories selected by the Editors in our daily newsletter
  • Hear from industry experts and other forward-thinking leaders
  • Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date

Join now

 

Already a Professional Pensions
member?

Login

More on Defined Benefit

FTSE 350 DB aggregate surplus sees narrow growth in March

FTSE 350 DB aggregate surplus sees narrow growth in March

Mercer analysis finds surplus grew by £7bn and aggregate funding levels rose to 111%

Martin Richmond
clock 17 April 2024 • 2 min read
Professional Pensions' DB Funding Index

Professional Pensions' DB Funding Index

How the funding of defined benefit pension schemes is changing

Jonathan Stapleton
clock 17 April 2024 • 1 min read
What next for public sector pensions?

What next for public sector pensions?

Kirsty McLean says there is both much to celebrate and much to do within public sector schemes

Kirsty McLean
clock 16 April 2024 • 3 min read
Trustpilot