UK - Retail giant Boots has said that its pension charge is expected to rise by £40m to £70m in 2004/05, on the back of falling bond yields and the "roll-off" of the amortisation of earlier surpluses.
In 2002, the £2.4bn scheme had moved its entire investment portfolio to bonds. Cash contributions that the group makes to the pension scheme are also expected to rise from the current level of £...
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 for 12 months, 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
