At a time when most job entrants have no pensions choice but defined contribution plans, with an uncertain level of payout, one big City employer still offers a scheme with guaranteed benefits and is pouring in extra cash to keep it as safe as, well, the Bank of England.

The Bank increased the top-up of its defined benefit scheme by £13 million in 2014-2015, putting in £87 million against £74 million the year before, according to the scheme's latest accounts, released in August.