Atkins breaks final salary link for accrued benefits

clock

WS Atkins has cut its pension deficit by a quarter by removing the link between accrued benefits and future increases in pensionable salary.

The engineering firm announced in its final results that the shortfall on an IAS19 basis had shrunk from £338m to £251m in the year ended 31 March 2012. This was down to a £30.9m exceptional gai...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

More on Defined Benefit

Mixed fortunes for DB scheme funding levels in March, Broadstone finds

Mixed fortunes for DB scheme funding levels in March, Broadstone finds

Consultancy warns schemes will likely have to navigate market volatility in April

Martin Richmond
clock 04 April 2025 • 1 min read
The key issues for trustees to consider when their sponsor is in financial distress

The key issues for trustees to consider when their sponsor is in financial distress

Kevin Dolan says effort, collaboration and negotiation can produce an improved outcome

Kevin Dolan
clock 03 April 2025 • 4 min read
DB members 'afraid' of surplus extraction plans

DB members 'afraid' of surplus extraction plans

PIC survey finds most DB members oppose political interference with pensions

Holly Roach
clock 03 April 2025 • 2 min read
Trustpilot