Deficits

BT has reported a £2.8bn increase in its net pension deficit on an IAS19 basis.

Marks & Spencer Group and its scheme trustees have agreed an £800m funding plan for the company's pension scheme.

Aviva will pump £365m into its staff pension scheme in a bid to tackle its £2.7bn deficit.

UK - Aviva will pump £365m (US$540bn) into its staff pension scheme in a bid to tackle its £2.7bn deficit.

The aggregate funding position of the 7400 defined benefit pension schemes monitored by the Pension Protection Fund worsened to a deficit of £2.2bn last month.

Pensions will remain the political ‘elephant in the room' which ever party emerges as the victor, Sackers says.

Freshfield Bruckhaus Deringer is closing its final salary scheme to future accrual.

The funding position for private sector defined benefit schemes is £95bn worse off than this time last year, according to Pension Capital Strategies.

Technology and engineering firm GKN has agreed a £30m per year asset-backed payment with the schemes trustees to tackle its £499m deficit.

Aviva has confirmed plans to close both the Aviva and RAC final salary schemes to future accruals.