TUI deficit rises above £500m despite groundbreaking funding deal

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TUI Travel's pension deficit has climbed above £500m as poor asset performance and changes to actuarial assumptions wiped out savings made by capping benefit accrual.

The travel firm's final results, published today, reveal the shortfall in its defined benefit schemes rose from £493m to £513m on an IAS19 basis over the year. The company said this was driven b...

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