STV Group Reduces Pension Deficit, Enhances Flexibility

STV Group plc (GB:STVG) has released an update.

STV Group plc has successfully negotiated a reduced pension deficit, now standing at £61 million compared to £116 million in 2020, while also lowering future cash contributions and suspending contingent cash contributions until at least 2028. These new arrangements aim to fully fund the pension schemes by October 2030, using prudent future assumptions and providing the company with greater financial flexibility. CFO/COO Lindsay Dixon hails the efficient valuation agreement as a testament to STV’s commitment to its former colleagues and stakeholders.

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