Deficits within Comet’s defined benefit scheme changed little in the year to April, despite trustees agreeing to increase deficit payments during this period.

Electrical retailer Darty said it assumed the Comet pension scheme’s liabilities following the disposal of the business. According to its latest financial statement deficits were €40.4m (£34.5m) at the end of April, compared to €40m (£34m) at the same time last year.

The fair value of plan assets at April 2012 was €356.9m, compared to defined benefit obligations of €396.9. A year later assets were valued at €409.1 compared to an obligation value of €449.5.

It was agreed with the trustees in June 2011 to make annual payments of £6.1m per annum, to eliminate deficits by March 2018.

However, increased annual deficit recovery payments of £10m were subsequently agreed with trustees as part of the scheme transfer to Darty, in an effort to bring forward deficit closure to March 2015. This was supported by additional payments of £3.5m in February 2012 and £3.65m in May 2012.

In its report, Darty stated that company contributions paid in 2012/13 totalled £13.65m and contributions to be paid in 2013/14 total £10m.

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