Defined benefit (DB) schemes had an aggregate deficit of £200bn on a gilts plus measure at the end of May, according to PwC.
The consultancy's Skyval index said the UK's circa 5,800 DB schemes had combined liabilities of £1.8trn, and assets of £1.6trn, resulting in a funding level of 88.9%. Although the deficit value is unchanged...
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
The Plumbing and Mechanical Services (UK) Industry Pension Scheme was 99% funded on a low-dependency basis, a valuation conducted amid economic turmoil has confirmed.
Professional Pensions rounds up some of the latest tender awards from across the industry.