Tesco DB deficit plunges by £2.8bn after changing discount rate calculation

James Phillips
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Tesco DB deficit plunges by £2.8bn after changing discount rate calculation

Supermarket giant Tesco has halved its overall defined benefit (DB) deficit after adapting its discount rate calculations to better reflect trends in long-dated corporate bond yields.

As of 24 February, the company - which sponsors both a British and an Irish DB scheme - recorded an aggregate IAS 19 accounting deficit of £2.7bn net of deferred tax, just over 50% lower than the p...

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James Phillips
Author spotlight

James Phillips

Professional Pensions journalist from 2016-2022

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