There is still some argybargy between private equity house KKR and the trustees of the Boots pension fund. The Boots trustees want money upfront from KKR, and are talking quite significant sums - £500m initially according to some reports, and up to £1bn overall. They argue, rightly in my view, that the change in ownership combined with extra debat leaves the employer covenant weaker. KKR in turn say they are willing to put money into the scheme, but far less than that demanded by the trustees.
As I've mentioned before, this sort of thing is being actively encouraged by the Pensions Regulator.
There's a piece on the trustees standing their ground in The Observer today.