The entry of UK retail chain Woolworths Group into administration, which has made it the subject of potential private equity bids, has put the position of its £315m (€377m) pension fund in the spotlight. Financial News looks at the liabilities at the pension scheme and the future faced by its 10,500 members and the seven asset managers that are employed to run it.

In a brief glance at Woolworths' most recent accounts for the period to September 30, an investor would assume that Woolworths' pension fund deficit was only about £60m at August 2, as reported by the retailer under the IAS19 company accounting standard.