HBOS PLans to Plug Pension Fund Gap
Banking group HBOS has announced plans to plug £1.8bn pension deficit by 2010
7th December 2005
Banking group HBOS has said it intends to make a 'sizeable contribution' next year to its final salary pension scheme fund, which is facing a deficit of £1.8bn.
The bank has also indicated it plans to close the deficit entirely by 2010, saying that it was a good decision to make extra contributions from a 'position of financial strength'.
The fund covers 36,000 employees of the banking group, including staff at Halifax and the Bank of Scotland.
Read More: BBC: HBOS moves to close pension hole
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