BAE Systems plc today announces that, after consultation with the UK Pensions Regulator, it has reached agreements with each of the Trustee Boards of its UK defined benefit pension schemes on the 2017 triennial funding valuations and deficit recovery plans.
At the 31 March 2017 funding valuation date, the aggregate of the deficits across the UK schemes was £2.1bn, broadly similar to the position at the last valuation in 2014.
The current annual deficit recovery payments of c£205m will increase by £15m to c£220m in 2018. Deficit contributions will further increase in line with any percentage growth in dividend payments made by the BAE Systems group (the "Group").
Under the new deficit recovery plans, these annual payments would subsequently fall by c£50m in 2022 and end in 2026.
https://www.investegate.co.uk/bae-syste ... 00059145X/
Also;
UK Pension, IFRS15 update, & sector reporting -
https://www.investegate.co.uk/bae-syste ... 00059138X/
And;
IFRS15 transition
https://www.investegate.co.uk/bae-syste ... 00049114X/