European chilled convenience food group Uniq has said it has reached an agreement with Uniq Pension Scheme Trustees Limited regarding a scheme specific funding basis in relation to a valuation of the Uniq approved pension scheme carried out on 1 April 2006.
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Uniq said the funding position of the scheme on a scheme specific funding basis at 1 April 2006 was a deficit of GBP130m (US$267m). It announced that a further GBP2.5m had been added by the company to the GBP84.5m that was placed in an account for the benefit of the scheme in April 2007.
Uniq added that no further cash sums, other than normal pension contributions, would be paid into the scheme, and that it expected the remaining deficit to be made good by market performance. This position will be reviewed at the time of the 2009 valuation, the company stated.
Uniq said a copy of the agreements would be placed on its website as soon as possible.
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