GKN shortfall soars despite de-risking measures

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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 whi...

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