Tesco, operator of the UK supermarket chain, has joined the growing list of UK corporates struggling with a rising pension fund deficit, and has decided to increase its contributions to the company's final salary scheme.

Members of the defined benefit scheme will also be asked to increase their contributions but Tesco says that it will be shouldering over two-thirds of the cost involved. BT, the telecoms company, GlaxoSmithKline, the pharmaceuticals group, Chubb, the security services group, LloydsTSB, the UK banking group, and Diageo, the drinks giant, are among those corporates facing similar pension funding problems.