Mitchells and Butlers agrees recovery plan to tackle £527m deficit

clock

Mitchells and Butlers has agreed a ten-year recovery plan with trustees of its defined benefit (DB) scheme, after its latest triennial valuation revealed a £527m shortfall.

The pub chain, which operates the O'Neill's, Nicholson's and Toby Carvery brands, said would increase previously agreed contributions for the three years from 2013 from £40m to £45m. From April ...

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

Tender Watch: Council tenders for SSAVC framework

Tender Watch: Council tenders for SSAVC framework

Portsmouth Council seeks framework agreement for provision of salary sacrifice scheme

Professional Pensions
clock 09 June 2023 • 1 min read
Azima Crumpton, Investment Consultant, Aon

Industry Voice: Buyout and illiquid assets - are you a pessimist, an optimist, or a realist?

Azima Crumpton, Investment Consultant, Aon
clock 09 June 2023 • 4 min read
DB funding levels remain stable in May

DB funding levels remain stable in May

Broadstone analysis finds that rising gilt yields reduced value of liabilities by 6%

Martin Richmond
clock 08 June 2023 • 1 min read
Trustpilot