The Cadbury Mondelēz Pension Fund has agreed a £520m buy-in with Rothesay Life, insuring benefits for around 1,900 pensioner members.
Cadbury will stop sending Christmas hampers to retired staff citing the pension scheme's costs as the reason, even though the scheme itself does not pay for the gifts.
The ongoing turmoil in the markets has triggered a dramatic trebling of FTSE100 companies' pension deficits in the last week, according to Towers Watson research.
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Pension funds invested in Cadbury got value for money from the confectionery giant's acquisition by Kraft, its former chairman told delegates.
Inaccurate data presented during the Kraft takeover of Cadbury could mean any clearance applications given in the course of the transaction are invalid, a lawyer says.