BAA pension scheme goes from surplus to deficit

The BAA Airports defined benefit (DB) pension scheme has moved from a surplus of £38.7 million at 31 December 2011 to a deficit of £103.3 million at 31 March 2012.

The airport operator, which includes Aberdeen, Glasgow, Heathrow, Stansted and Southampton airports, reported the funding change in its first quarter results.

It said the deficit, of which £32.5 million was attributable to BAA, is due principally to the impact of changes in forecast inflation rates.

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