Deficits

US - Governor Chris Christie of New Jersey said the state may not be able to make a required pension payment in the next fiscal year.

Royal Mail has agreed to pay substantially higher pension contributions to plug the scheme's multi-billion pound deficit.

UK - British Telecom is to challenge Ofcom's decision not to take into account its scheme deficit when setting its regulated charges.

Current Local Government Pension Scheme funding levels cover only three-quarters of its future liabilities, an Audit Commission report reveals.

Chemicals company Croda International is changing the accrual rate of its pension scheme for new members, despite a slight improvement in its scheme deficit.

Corporate pension funds in the UK and overseas are continuing to move towards liability driven investment strategies, the Investment Management Association says.

The Universities Superannuation Scheme board of trustees has approved employers' proposals for fundamental reform of its benefit structure.

Communications watchdog Ofcom has ruled out changes to British Telecom's wholesale charging structure, despite the telecoms giant's £9bn scheme deficit.

Regulators should promote countercyclical funding policies, like providing better tax ceilings for over-funded schemes, in order to support the continuation of defined benefit plans, the OECD said.

Embattled chilled foods firm Uniq could be forced to recapitalise in order to fund its £436m scheme deficit.