TUI Travel's pension deficit has climbed above £500m as poor asset performance and changes to actuarial assumptions wiped out savings made by capping benefit accrual.
The travel firm's final results, published today, reveal the shortfall in its defined benefit schemes rose from £493m to £513m on an IAS19 basis over the year. The company said this was driven b...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here
