Aga sale puts underfunded pension scheme on firmer footing

Stephanie Baxter
clock

The planned £129m sale of Aga announced today will put the firm's defined benefit pension scheme on firmer financial footing, according to the trustees' adviser.

The firm's board has approved the offer by Middleby Corporation, which includes guarantees for the oven-maker's schemes, which have a £84m deficit. Aga chairman John Coleman said the deal would ...

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

CETVs 'significantly lower' since last year as Q1 sees 2% decrease

CETVs 'significantly lower' since last year as Q1 sees 2% decrease

Transfer Value Index finds average volumes are £160,000 but 50% lower than last year

Jasmine Urquhart
clock 25 April 2024 • 1 min read
Stability in scheme funding leads to hope of new endgame options

Stability in scheme funding leads to hope of new endgame options

Broadstone says stability at higher levels of scheme funding is increasing demand

Holly Roach
clock 23 April 2024 • 2 min read
Could the rush to buyout soon be over?

Could the rush to buyout soon be over?

While buyout is still viewed as a gold-standard, many are now considering run-on as an option

Stephanie Hawthorne
clock 22 April 2024 • 9 min read
Trustpilot