Wilko workers hit with pension cuts

Wilko workers signed up to its pension scheme have been hit with a reduction to their savings, as the business’s benefit scheme enters the Pension Protection Fund.
According to administrator PwC, the deficit in the scheme has risen to £76m on a buyout basis, compared to the £50m previously thought.
While £56m will rank as an unsecured debt, the scheme is due to reclaim £20m from security taken over a distribution centre and other freehold properties.
Any distributio