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Sainsbury's may sell off pension fund

Sainsbury's

Sainsbury's is examining plans to sell off its final-salary pension scheme, according to the Sunday Express newspaper.

The move could open the way for a renewed bid for the retailer from Qatari-backed investment fund Delta Two.

The supermarket’s pension liabilities are believed to have helped scupper the £10.5bn deal last year.

The Express quotes unnamed sources “close to Sainsbury’s” saying the firm, led by chief executive Justin King, has collected quotes from a number of specialist insurers interested in buying out the fund.

Sainsbury’s scheme is worth more than £2bn and has more than 85,000 members.

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