Pub company Greene King has seen its IAS19 DB pension deficits rise by almost 30 per cent.
In its latest interim results for the 24 weeks to 19 October 2014, Greene King said deficits rose from £52.2m to £82.1m.
“The movement is primarily due to an increase in the present value of the scheme’s resulting from changes to the market derived, actuarial assumptions together with a reduction in the market value of the scheme’s assets since the year-end,” the company said.
Total cash contributions in the period amounted to £2.7m for past service.
Actuarial losses on the DB schemes amounted to £31.6m compared to gains of £9.8m in the 24 weeks to 13 October 2013.
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