Method Of Valuing Pension Fund Deficits Takes Toll on Tex Holdings
23 August 2012 (PLANSPONSOREurope.com) -The method with which Tex Holdings values it pension fund deficits continues to be a “great burden” for the company.
The group says in its half yearly report that the method of valuing its pension fund deficits continues to be a great burden to the company.
Of the company's assets of £10,359k, 33% of this sum has to be set aside for the pension fund deficit.
According to the group longevity, low gilt yields and alterations in funding have affected the sums to the detriment of shareholders while the group adds it feels the increases in deficits are largely technical and therefore justify proper review.