Deficits

The total deficit of private sector UK defined benefit (DB) schemes increased by £100bn last month as rising inflation expectations pushed up liabilities, figures show.

A drop in the FTSE over August has wiped out summer deficit reduction as levels return to those seen in May, research from Mercer shows.

Go-Ahead has triggered a formal 60-day consultation on closing its defined benefit (DB) scheme to future accrual, its final results show.

Johnson Service Group (JSG) will merge its existing three defined benefit (DB) schemes into one as it looks to cut operating costs.

Deficits in the private sector rose in August with smaller-cap listed and unlisted firms mainly to blame, research from JLT Employee Benefits (JLTEB) shows.

Serco has paid £16.8m to eliminate the deficit of its Vertex pension fund, paving the way for it to be transferred into the company's main defined benefit (DB) scheme.

Guinness Peat Group (GPG) has agreed to double payments to its main scheme as The Pensions Regulator (TPR) continues to investigate whether to force the company to increase contributions.

Engineering firm Costain's defined benefit (DB) scheme deficit has reduced following risk reduction exercises and in spite of 2012's plummeting discount rates, its interim results show.

BP has agreed to make more than £1.4bn of additional contributions to its pension schemes over the next five years in a bid to wipe out its deficit by 2017.

Cadbury will stop sending Christmas hampers to retired staff citing the pension scheme's costs as the reason, even though the scheme itself does not pay for the gifts.