Deficits

The London Pensions Fund Authority (LPFA) has revealed it has a shortfall of just over £3bn and is 61% funded on a swaps + 0% valuation basis.

The BT Group pension scheme's deficit hit £7.3bn gross of tax after an increase in market inflation expectations.

PZ Cussons three UK defined benefit (DB) schemes' total surplus has grown £4m to £19.3m as of 30 November 2013, compared to 2012's figure of £15m.

The Unilever defined benefit (DB) scheme deficit has fallen from £2.72bn to £1.65bn over 2013.

MP Rob Wilson has written to BBC Trust chairman Lord Patten demanding an explanation for the broadcaster's £2bn pension scheme deficit and questioning the stewardship of the scheme trustees.

The BBC Pension Scheme trustees have negotiated an extra £365m employer contribution to tackle the fund's £2bn deficit.

Ryanair has closed its defined benefit (DB) scheme to existing members after paying in €12.5m (£10.4m) to plug its deficit.

Premier Foods is in talks with trustees of its defined benefit (DB) scheme to reduce its liabilities as part of a corporate restructuring, according to reports in the Financial Times (FT).

The Pensions Regulator has issued Guinness Peat Group (GPG) with warning notices in respect of two defined benefit (DB) within its business.

The cost of running a defined benefit (DB) scheme is preventing firms from investing, according to research carried out by the Confederation of British Industry (CBI).