Deficits

Unilever's scheme deficit rose by €500m in 2012 due to falling discount rates and a 33% fall in the value of its assets.

The ‘no change' announcement by the Office for National Statistics has added £20bn to FTSE100 deficits as gilt market expectations for inflation increased.

Interserve has agreed to transfer a portfolio of 19 private finance initiatives to its scheme to reduce its actuarial deficit from £150m to £95m.

Scheme deficits remained largely unchanged over the last year despite gains in asset prices, Pension Protection Fund research says.

The Pensions Regulator has explained why it sanctioned the restructuring of UK Coal which saw its scheme take a majority stake in part of the business in return for a £30m investment.

Deficits in UK schemes remain stubbornly high as the aggregate shortfall for schemes in the PPF 7800 index rose above £250bn last month.

FTSE350 defined benefit deficits have risen 11% over November but funding ratios remains stagnant at 90%, a Mercer survey shows.

The UK Coal pension schemes have taken a controlling stake in a property business that was split off from the scheme's sponsoring employer in an attempt to plug a £450m deficit.

Greene King is to close its three defined benefit schemes to future accrual after a consultation with active members, its half yearly report announces.

Invensys will plough almost half the proceeds from the £1.7bn sale of its rail business to Siemens into its underfunded pension scheme.