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Strategies & Market Trends : The Bird's Nest

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From: clutterer3/18/2009 6:54:12 AM
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Shell says faces $8.3 bln pension hole

Wed Mar 18, 2009 5:25am EDT

By Tom Bergin

LONDON, March 18 (Reuters) - Oil major Royal Dutch Shell Plc (RDSa.L) said it had a $8.3 billion hole in its pension fund at the end of 2008, smaller than earlier indicated, but it will need to increase contributions.

"In 2008, the value of the assets in our pension plans decreased and at year end the present value of pension obligations exceeded plan assets by $8.3 billion," the company said in a regulatory filing.
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