BP will retain DB scheme despite new 4% deficit

By Robert Melia Watson2 April 2002

UK – The slump in the equity markets means the $16.9bn (€19.2bn) BP Amoco UK pension scheme only has enough assets to cover 96% of its liabilities, opposed to 120% the previous year, according to its latest annual report. However, the company says it won’t close its defined benefit scheme, ...