GKN deficit doubles to £714m after FRC probe into asset-backed contribution

clock •

GKN has seen the deficit in its UK schemes more than double after amending an asset-backed contribution structure (ABC) to address concerns raised by the Financial Reporting Council (FRC).

The engineering firm's annual results to the end of December, published today, show the deficit jumped from £341m to £714m on an accounting basis over the year. It said this was primarily the re...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • 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

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Defined Contribution

Partner Insight: Good governance in an AI-enabled world

Partner Insight: Good governance in an AI-enabled world

Sharon Bellingham, Master Trust Lead, Scottish Widows
clock 25 September 2026 • 6 min read
Partner Insight: From gilts to grids - Five themes shaping the U.K. investment landscape

Partner Insight: From gilts to grids - Five themes shaping the U.K. investment landscape

Sophie Ballard, Nuveen
clock 24 September 2026 • 3 min read
Partner Insight: From Monopoly to Age of Empires – Part II: AI and the new terms of trade - When intelligence becomes abundant, what remains scarce?

Partner Insight: From Monopoly to Age of Empires – Part II: AI and the new terms of trade - When intelligence becomes abundant, what remains scarce?

Cory Unal and Dara White, Columbia Threadneedle Investments
clock 24 September 2026 • 5 min read
Trustpilot