Greggs' pension deficit skyrockets 484% over 2016

James Phillips
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Greggs' pension deficit skyrockets 484% over 2016

High street bakery chain Greggs saw a £19m increase in its defined benefit (DB) scheme deficit during 2016 on the back of falling corporate bond yields.

As of 31 December, the final salary scheme recorded a total deficit of £22.9m on the IAS 19 accounting measure, compared to just £3.9m on 2 January 2016. The DB fund closed to future accrual in 2008,...

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