Carillion's 13 UK defined benefit (DB) pension schemes had a combined £2.6bn buyout deficit upon its collapse on 15 January, according to an analysis for Sky News.
The deficit - calculated on the most onerous measure as it assumes buying out all liabilities through an insurer - is around £2bn more than the £587m figure disclosed under the IAS 19 accounting measure...
Universities Superannuation Scheme (USS) has reported a technical provisions deficit of between £14.9bn and £17.9bn as of 31 March 2020, and delayed its valuation as it considers how to proceed.
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the February 2021 estimates on the various measures…
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.