funding level

Trustees of British Polythene Industries' UK defined benefit scheme have agreed a £20m property-backed cash payment plan with the firm.

TUI Travel is in advanced negotiations with its scheme trustees over plans to merge four of its six defined benefit schemes to tackle its £431m deficit.

National Express UK Bus division has agreed an improved recovery plan with trustees of its pension fund, in response to a soaring deficit.

Volatility hits pensions deficits

Wolfson Microelectronics is to close its defined benefit pension scheme to future accrual and is working with trustees to eliminate the scheme's £10m deficit within 10 years.

Chilled food maker Uniq's losses have fallen following the pioneering debt-for-equity deal which saw its pension fund take a majority share-holding.

The Home Retail Group Pension Scheme has shrunk its deficit by 70% following strong market performance and additional employer contributions.

UK Coal, Britain's largest coal mining company, has confirmed its intention to close its defined benefit pension scheme to future accrual.

Tesco has slashed its scheme liabilities by £270m by switching from the Retail Prices Index to the Consumer Prices Index for calculating inflation linked benefits.

Travis Perkins has reported a £32m scheme surplus after making a one-off £35m contribution into the fund, introducing a contingent asset and capping pensionable salary increases at 3%.