FTSE350 companies have enjoyed a 7% month-on-month decrease in their defined benefit (DB) pension scheme deficits despite recent turmoil in the equity markets, according to Mercer.
The consultancy's latest Pensions Risk Survey revealed that deficits tumbled from £95bn at the end of July to £88bn on 27 August, driven by a rise in corporate bond yields and a fall in market implied...
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
The Plumbing and Mechanical Services (UK) Industry Pension Scheme was 99% funded on a low-dependency basis, a valuation conducted amid economic turmoil has confirmed.
Professional Pensions rounds up some of the latest tender awards from across the industry.