Royal Mail's DB cash balance scheme rises in deficit

clock • 2 min read

The deficit of Royal Mail’s defined benefit (DB) cash balance scheme increased over the year as the company awaits secondary legislation for collective defined contribution (CDC), according to its annual results.

The scheme - which is a transitional arrangement until the postal service can implement its proposed (CDC) scheme - had an IAS 19 accounting deficit of £394m, up from £177m in the 2019/20 year. The...

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