Deficits

ITV's scheme deficit rose from £390m to £551m over 2012 as a falling discount rate continued to inflict pain on the broadcaster's balance sheet.

Engineering giant GKN has split its UK defined benefit scheme into two in its latest annual move to curtail scheme deficits and reduce risk, its 2012 final results reveal.

Premier Foods will use the consumer prices index to calculate benefits in its RHM Pension Scheme following a 66% spike in overall deficits, its 2012 results show.

Scheme deficits increased significantly in January according to the latest funding survey, compounding mixed messages on the state of defined benefit funds during a month of stock market gains.

Insurer RSA saw its deficit rise substantially despite an increase in its assets and contributions from the sponsor, its results show.

Intercontinental Hotel Group has agreed to contribute an additional £45m to its UK defined benefit scheme over the next two years.

Telecoms group Everything Everywhere has seen its defined benefit scheme deficit rise by 48% over 2012 as liabilities increased by £60m, according to its results.

Pendragon has merged its six defined benefit schemes into one as its liabilities increase by 245%, its full year results show.

HSBC is to close its defined benefit scheme to future accrual next year after launching a consultation with employees.

Amec has closed its career average revalued earnings schemes to new members and offered cash lump sum settlements despite its principal scheme being in surplus, its full-year results show.