Capita defers £31.7m of DRCs as revenue drops 9%

James Phillips
clock • 2 min read

Capita has deferred a £31.7m deficit recovery contribution (DRC) due to the Capita Pension and Life Assurance Scheme in June 2020 to the second half of the year.

The delay was agreed with the trustees, while the company saw a 9% reduction in revenue over the first half of the year, with a reported loss before tax of £28.5m. The administrator said its adj...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

James Phillips
Author spotlight

James Phillips

Professional Pensions journalist from 2016-2022

More on Industry

Mercer completes acquisition of Cardano

Mercer completes acquisition of Cardano

Terms of the transaction, first announced in the summer, were not disclosed

Holly Roach
clock 04 November 2024 • 2 min read
Reeves to set out pensions overhaul in Mansion House speech

Reeves to set out pensions overhaul in Mansion House speech

Chancellor to announce reforms designed to release billions of pounds of investment

Jonathan Stapleton
clock 04 November 2024 • 1 min read
IHT pensions changes expected to drive 'strong interest' in annuities

IHT pensions changes expected to drive 'strong interest' in annuities

Though ‘ambiguity’ persists on annuities treatment, retirement planning expert says

Jen Frost
clock 04 November 2024 • 3 min read
Trustpilot