U.S. food conglomerate Kraft is contributing nearly £400 million towards Cadbury’s deficit-laden pension scheme, Financial News reports. An increased deficit of £326 million requires the chocolate making company to shell out £30 million a year until 2018 and £5 million in 2019, addressing £245 million of the total deficit.
Normal contribution payments, such as those from employee salaries, will also be raised from 15.5% to 19.2%. The pensions wage bill for 2010 may shoot from £71 million to £87.9 million in 2011.
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