The combined deficit of the UK's defined benefit (DB) schemes grew by 30% over the last 12 months, according to the Pension Protection Fund (PPF).
The 5,794 DB schemes in the PPF 7800 Index had a deficit of £245.6bn on a section 179 basis at the end of April, up from £188.7bn at the same point last year. Liabilities totalled £1.8trn, while assets...
DB scheme consolidator Stoneport hopes to get 100 schemes signed up by the end of next year, but employer covenant will be vital, chief executive Richard Jones tells James Phillips.
The outlook for future longevity in the UK has not necessarily worsened as a result of the coronavirus pandemic, Aon says.
Mitchells & Butlers has deferred £13m of deficit recovery contributions (DRCs) after tier four Covid restrictions wreaked havoc across the hospitality sector.
British Airways (BA) has deferred deficit recovery contributions (DRCs) totalling £450m following an agreement with trustees after a catastrophic year for the airline industry.
Jump from 554 in 2019