 The Bank of England scheme has moved into deficit |
The Bank of England (BoE) is to pay �370m into its pension fund over the next decade. The bank's annual report showed that the pension fund had slipped from a small surplus in 2002 to a �299m deficit last year.
The cash will close a black hole in the pension fund caused by increased member longevity and poor investment returns.
The BoE is the latest in a long line of employers to struggle with a large pensions deficit.
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