GKN has seen its pension deficit more than double over the past 12 months, as a falling discount rate cancelled out gains from a funding partnership and enhanced transfer value exercise.
The engineering firm revealed in its end of year results today that the shortfall had grown by £188m to £259m on an IAS19 basis, driven principally by a 70 basis point fall in the discount rate which increased...
Defined benefit (DB) schemes are looking for alternatives to seeking additional cash contributions from sponsors to manage payouts in the wake of the Covid-19 market disruption, according to Willis Towers Watson (WTW).
The Pension Protection Fund (PPF) will look to appoint a new administrator to oversee an investigation into the collapse of Laura Ashley, according to reports.
Down again from March
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the April 2020 estimates on the various measures…
The Society of Pension Professionals (SPP) estimates only 5-10% of scheme sponsors will suspend or reduce contributions during the coronavirus pandemic while majority have no need to alter their payment schedules.