Deficits

Almost half of trustees expect funding levels in the latest round of triennial valuations to be worse than they were three years ago, according to research.

The Trinity Mirror pension scheme has seen its deficit fall by £54m in the first quarter after increasing the discount rate used to calculate its liabilities.

Deficits in UK schemes were stable over the last month as corporate bond yields and long-term inflation expectations remained unchanged, research finds.

The combined liabilities of the largest UK charities' defined benefit schemes has reached almost £5bn, accountancy firm BDO says.

The Home Retail Group Pension Scheme has seen its accounting deficit jump from £7.5m to £115.3m over the last 12 months.

Whitbread has seen its pensions deficit grow by £111m in the 12 months to the end of march, despite paying in more than £95m in recovery funding.

The BAA Airports Limited defined benefit pension scheme has seen its funding position worsen by more than £140m in the first three months of the year.

Poorer than expected asset returns, a falling discount rate and increasing longevity assumptions have almost doubled the Johnston Press Pension Plan deficit in 2011.

Tesco's pensions deficit has risen 40% in the past year to £1.87bn driven by lower than expected bond yields and asset returns.

A union and pension consultancy firm has criticised a "flawed" study by a taxpayer group showing a £54bn shortfall in the Local Government Pension Scheme.