British American Tobacco pension schemes' net liabilities almost double in a year

British American Tobacco’s (BAT) overall net liability for its pensions and healthcare schemes in group subsidiaries nearly doubled in the year to 31 December 2019 to £1.03bn from £518m the year prior.
The firm's full year results revealed the increase may be largely attributed to lower discount rates in the US and the UK, and the agreement with the Pension Insurance Corporation (PIC), whereby the trustees...
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