IAS19

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.

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.

Rolls Royce has seen its UK schemes' funding position fall by 28% due to a decrease in the value of assets, its 2012 results show.

Barclays Group deficit across all its schemes has increased by 550% over 2012 rising by £1.1bn to stand at £1.3bn, its final results have shown.

Deficits at the UK's biggest schemes rose more than 20% in January despite big gains on the stock market, according to research from Mercer.

The combined deficit of all UK schemes increased by £150bn last year to reach a total of £550bn, research by Xafinity shows.

Engineering firm Renishaw has seen its deficit increase by more than £3m in the last year despite a strong performance from its assets.

Companies should consider early adoption of the revised IAS19 as it impacts risk-management strategies, a consultant warns.

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

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