Logistics firm Wincanton agrees to pay more to help plug the £221m black hole in its pension fund

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Logistics firm Wincanton agrees to pay more to help plug the £221m black hole in its pension fund

City & Finance Reporter for the Daily Mail

Logistics firm Wincanton is to pay more to help plug the £221m hole in its pension fund

Logistics firm Wincanton is to pay more to help plug the £221m hole in its pension fund

Logistics firm Wincanton is to pay more to help plug the £221m hole in its pension fund

Logistics firm Wincanton is to pay more to help plug the £221m black hole in its pension fund.

It will pay £17.3million each year until 2021 and £24.3million each year until 2027 to close the pension deficit.

That compares to payments of £14.1million last year and £20.9million in 2016.

Bosses have also agreed to pay even more into the fund if the shareholder payouts rise by more than 10per cent each year.

Earlier this year, bust builder Carillion was heavily criticised for putting payouts to shareholders ahead of its pension fund.

The changes follow a triennial review.

Chief executive Adrian Colman said the changes were ‘fair and affordable’. 

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