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Blunders : Tesco has got a huge five billion pension headache

by on October 2, 2016 in Blunders, Business, Latest News, Lead Article, Lead story, Retail, Retail News

Tesco could be forced to hike payments into its staff pension scheme – after an increase in the deficit to as much as £5billion.
The company is currently paying £270million over a ten-year period but falling yields on long-term investments mean the supermarket giant is facing a larger pension gap than anticipated.
The existing payment schedule, which has been agreed with its pension trustees, would mean it would take about five years longer than previously hoped to cancel out the deficit. New plans could be made once next year’s three-year revaluation of the scheme’s liabilities is complete.

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