Whitbread reaches agreement on pension fund valuation
Premier Inn and Costa Coffee owner Whitbread has come to an agreement over the group's pension fund on the triennial valuation as at March 31st last year.
Premier Inn and Costa Coffee owner Whitbread has come to an agreement over the group's pension fund on the triennial valuation as at March 31st last year.
It has been agreed that the valuation shows a funding deficit on an actuarial basis of £521m compared to £388m at the last triennial valuation.
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To provide further security to the pension fund scheme, Whitbread will grant an additional charge of £180m in favour of the fund on Whitbread properties, taking the total amount charged to £408m. The Trustee of the fund has agreed that the amount secured by this additional charge will reduce if the deficit decreases.
Shares were trading 0.24% lower at 2,086p by 14:28.
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