Santander deficit up 400% in first six months of 2013

clock

Santander's combined defined benefit (DB) deficit has increased more than five times in the first half of the year, its interim results show.

The UK arm of the Spanish banking group operates three DB schemes, one of which is unfunded. Of the two funded schemes, one reported a surplus of £203m. However, this surplus was down from the e...

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

Join now

 

Already a Professional Pensions
member?

Login

More on Defined Benefit

DB 'inefficiencies' costing schemes £300m per year

DB 'inefficiencies' costing schemes £300m per year

Research finds ‘fragmented’ administration market leads to ‘unnecessary’ running costs

Martin Richmond
clock 02 May 2024 • 4 min read
LGPS assets hit record £400bn in March

LGPS assets hit record £400bn in March

Isio finds funding levels increased 39% since last actuarial valuation in March 2022

Jasmine Urquhart
clock 29 April 2024 • 2 min read
Clara Pensions CEO questions need for public sector consolidator

Clara Pensions CEO questions need for public sector consolidator

Simon True says need for PPF consolidator ‘not obvious’ in a ‘vibrant’ market

Martin Richmond
clock 26 April 2024 • 2 min read
Trustpilot