Babcock deficit up by £40m

clock

Babcock International saw its pension deficit rise by £40m to £266m over the year to the end of March, driven principally by a fall in discount rate applied to liabilities.

The engineering firm said in its final results, published today, that the scheme would receive £93m in cash contributions this year, with £56m of this to cover the cost of future accrual. It sai...

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

£240m Calor Group plan appoints GSAM as fiduciary manager

£240m Calor Group plan appoints GSAM as fiduciary manager

GSAM replaces Cardano as trend for schemes to review existing arrangements continues

Jonathan Stapleton
clock 17 December 2024 • 2 min read
Partner Insight: Investing in your risk settlement investment advice

Partner Insight: Investing in your risk settlement investment advice

Hatty Goodwin, Associate Partner, Aon
clock 16 December 2024 • 4 min read
PPF levy decision delay sparks hope of charge reduction or abolition

PPF levy decision delay sparks hope of charge reduction or abolition

Industry argues ‘multi-billion’ surplus means levy is no longer needed

Jonathan Stapleton
clock 13 December 2024 • 5 min read
Trustpilot