The latest annual report showed the value of the assets in the scheme was £73.3m, with the liabilities totalling £102.4m, leaving a shortfall of £29.1m. It also showed that £54.4m of the total assets in the pension schemes was in equities. As the FTSE All-share index has declined by some 20% since the year end, the deficit could have increased by a further £10.9m to more than £40m.
UK: Pension deficit deals new blow to Bulmer
The position of the beleaguered UK-based cider, HP Bulmer, has worsened further after it emerged that the company is facing a pension fund deficit of £29m.