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BRIEF-AA Plc says co's UK pension scheme's deficit as at March 31 at 366 mln stg
June 8, 2017 / 12:41 PM / 4 months ago

BRIEF-AA Plc says co's UK pension scheme's deficit as at March 31 at 366 mln stg

June 8 (Reuters) - AA Plc:

* Triennial review of AA’s UK Defined Benefit Pension Scheme has been concluded and trustee and AA have come to agreement on deficit funding plan

* Increase in deficit is largely caused by reduction in long term gilt yields

* Triennial valuation of UK’s pension scheme’s deficit as at 31 March 2016 is 366 mln stg compared with previous 2013 triennial deficit valuation of 202 mln stg​

* Agreed a nine-year deficit recovery additional funding plan with trustee, taking into account continued funding of previous deficit

* Will make additional contributions of 8 mln stg per annum for next two years

* Next triennial actuarial review is scheduled for three years as at 31 March 2019 Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 80 6749 1136)

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