GKN confirms DB closure and £250m cash injection
Engineering group GKN has announced it closed its two UK defined benefit (DB) schemes to future accrual on 1 July, after falls in bond yields increased liabilities in 2016.
Its half-yearly report published today, the firm also revealed the total accounting deficit for these schemes, called GKN 2 and GKN 3, decreased slightly to £1.1bn on 30 June from £1.2bn on 31 December...
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