Tesco schemes move to deficit following £2.4bn fall in accounting funding position

Retailer says discount rate and gilt yields movements drive the swing

Holly Roach
clock • 1 min read
Tesco schemes move to deficit following £2.4bn fall in accounting funding position

Movements in discount rates and gilt yields have reduced the funding position of Tesco’s pension schemes by over £2.4bn on an accounting basis, preliminary results reveal.

The grocer's results for the year to 25 February 2023 - published today (13 April) - revealed a net defined benefit deficit of £294m as at 25 February 2023 on an accounting basis. This compared to ...

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