Sainsburys

Liabilities slashed by £1.2bn

Obligation for the Asda defined benefit (DB) pension scheme will not be shared between Walmart and J Sainsbury following the merger of their two supermarket businesses, it has been confirmed.

The combined deficit of Sainsbury's defined benefit (DB) schemes has climbed 119% in twelve months, according to its preliminary annual results.

Sainsbury's has seen the shortfall of its defined benefit (DB) scheme increase to £1.1bn by 24 September following a "significant" fall in discount rates.

The trustee of the Home Retail Group's pension scheme has agreed its future funding with Sainsbury's which is set to acquire the business from Argos.

Concern firms could suffer 'reputational damage'

Rising longevity poses a much greater threat to companies with defined benefit (DB) pension schemes than low interest rates, Fitch Ratings has warned.

Sainsbury's head of pensions John Lovell has been appointed to the newly-created role of group pensions director at Coats from March.

The BP Pension Scheme has purchased a Worcester-based Sainsbury's supermarket store from M&G Investments in a deal worth £27.25m.

Sainsbury's defined benefit (DB) scheme actuarial deficit has fallen by £635m over the three years between March 2009 and 2012, its interim results show.