Lloyds TSB slashes cuts pension deficit by over £1bn

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LLOYDS TSB Group cut the deficit in its pension scheme by more than £1bn in 2006, the banking giant's annual results reveal.

The group’s defined benefit pension schemes’ IAS19 deficit stood at £2.1bn at December 31, 2006 following an improvement in its funding position of £1.2bn since 2005. The schemes have combined asse...

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