Fujitsu invests £800m in DB pension schemes

Fujitsu Limited has invested a special payment of £800 million into three of its UK defined benefit (DB) pension schemes.

The investment is aimed at improving the funding position of the schemes, which cover more than 21,000 members.

It has also negotiated reduced ongoing annual contributions with the pension scheme trustees.

Steve Clayton, chief financial officer at Fujitsu UK and Ireland, said: “The special payment significantly reduces the risk within our UK pension plans and ensures the funding levels within the schemes remain stable and predictable.

“As a global company with more than 10,000 employees in the UK, the confidence that our people have in us as an employer is paramount. This investment, which we worked closely and constructively with the trustee boards to achieve, is a true indication of the commitment to UK employees past and present held by Fujitsu.”

John Cridland, director general at the Confederation of British Industry (CBI), added: “Fujitsu’s decision today highlights the company’s commitment to honouring the pension promise made to employees.

“Like many businesses, [it is] working hard to grow as well as fund pensions. Last week’s Budget announcement of a new duty on The Pensions Regulator to support the growth of firms that are standing by their scheme will be good news for every business with a DB scheme.”