Whitbread, the owner of Premier Inn and Costa Coffee, has seen its pension deficits in its defined benefit scheme reduce by £57m according to its latest financial results as at 28 February 2013.

IAS19 pension deficits reduced to £541.7m this year from £598.7m as of March 2012. The main reasons for the reduction in the deficit was the increase in the value of assets under investment and a cash contribution of £45.7m which were only partially offset by increased liabilities due to a higher inflation rate assumption.

According to the statistics net asset values increased from £1,283.2bn on 1 March last year to £1,629.4bn this year.

As part of the triennial pension agreement between Whitbread and the pension trustee for the year ended 31 March 2011, further security in the form of a charge over properties with a market value totalling £180m was agreed to be given in favour of the pension scheme. Statistics showed that the total value of property security in favour of the scheme reached £408m

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