TUI Travel's pension deficit has climbed above £500m as poor asset performance and changes to actuarial assumptions wiped out savings made by capping benefit accrual.
The travel firm's final results, published today, reveal the shortfall in its defined benefit schemes rose from £493m to £513m on an IAS19 basis over the year. The company said this was driven b...
To continue reading this article...
Join Professional Pensions
- Unlimited access to real-time news, analysis and opinion from the industry
- Receive our in-depth monthly magazine in either print or digital format
- Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
- Receive important and breaking news stories selected by the Editors in our daily newsletter
- Hear from industry experts and other forward-thinking leaders
- Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date