Deficits

Jack Jones looks at the findings from the CBI’s biennial pensions survey

Former Pension Protection Fund (PPF) head of restructuring and insolvency Richard Favier has set up as an independent trustee.

Greencore has set up an asset-backed contribution structure (ABC) to fund a £40m deficit in one of its defined benefit (DB) schemes.

Kcom has spent £895,000 putting in place an asset-backed contribution structure (ABC) that will deliver £1.1m a year to its defined benefit scheme for the next 15 years.

Asset-backed contribution structures (ABCs) are increasingly being used to fund smaller deficits, according to research from Deloitte.

Mercer has launched an app that gives clients access to daily information about the funding status of their schemes.

QinetiQ has closed its defined benefit (DB) scheme to future accrual, cutting its deficit by half to £20m.

Sainsbury's defined benefit (DB) scheme actuarial deficit has fallen by £635m over the three years between March 2009 and 2012, its interim results show.

FTSE350 companies' defined benefit (DB) scheme deficits increased by £6bn over October to hit £102bn on an IAS19 basis, despite rising asset values, Mercer says.

Strong asset returns particularly from its bonds and cash allocation sees Dairy Credit reduce its deficit by £38m, its interim results show.