UK - Engineering firm Smiths Group has ended its contribution holiday after an FRS17 valuation of its £2.5bn pension fund revealed a £150m deficit.
The company will now resume employer contributions of £30m a year. The deficit was revealed in the group’s interim results to January 31, which adopted FRS17 calculations for the first time. ...
To continue reading this article...
Join Professional Pensions
- Unlimited access to real-time news, analysis and opinion from the industry
- Receive our in-depth monthly magazine in either print or digital format
- Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
- Receive important and breaking news stories selected by the Editors in our daily newsletter
- Hear from industry experts and other forward-thinking leaders
- Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date