Deficits

Schemes could shift to 75% bond allocations over the next five years as the desire to reduce investment mismatching gathers pace, a consultant says.

Britvic closed its defined benefit pension scheme to future accrual in April and switched all members to its existing defined contribution plan, results show.

Scapa Group has reduced the deficit of its three UK defined benefit schemes by £3.6m, results show.

DMGT is set to agree a 12-year deficit recovery plan with trustees which will pump about £344m into the defined benefit scheme, results show.

UK - Warwickshire County Council pension fund has been forced to take a £5m ($8m) loan to fill a cash shortfall after austerity measures put a strain on its cash flow.

Cable & Wireless Communications has pumped an additional £64m into its superannuation fund in a bid to slash its £161m deficit by 2016, results reveal.

UK/RUSSIA - Trustees of HMV's pension scheme are in discussions with the retailer over its intended £53m ($85m)sale of the Waterstone's book chain.

UK/ CANADA - Last week's passage of the Ontario budget gave approval for the Nortel pension plan to put through what could be North America's first pension buyout. Ronald Olsen, vice president at Sibson Consulting, who assisted the plan with its proposal,...

Dairy Crest, which closed its defined benefit scheme to future accrual last year, has cut its deficit by about £82m on an accounting basis.

US - Treasury secretary Timothy Geithner said yesterday he suspended investments into two federal pension funds and plans to redeem billions in assets since the US has bumped up against its $14trn debt ceiling.