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Last Updated: Wednesday, 24 May 2006, 11:55 GMT 12:55 UK
Reuters to top up pension funds
City dealers
Market information and dealing systems are the core of Reuters' business
The international media organisation Reuters is going to pay an extra 236m into its two final salary pension schemes over the next two years.

The company has taken the decision to help eliminate a pension deficit calculated last year at 265m.

Reuters will also adopt a less risky investment strategy for the schemes, in the hope that the moves will prevent a deficit in the future.

The deal comes after protracted negotiations with the scheme trustees.

The two final salary schemes operated by Reuters were closed to new members in 1999.

Since then, all new recruits joining the company have been able to join a money purchase "defined contribution" scheme instead.

The group now employs 15,300 staff in 89 countries. Last year, it took over the rival Telerate financial information service.

For 2005, Reuters reported profits of 238m on turnover of 2.4bn, with most of its earnings coming from the sale of market information and dealing systems to financial institutions.


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