(by Fiona Mitchell)

The UK No. 3 supermarket chain J. Sainsbury said it will increase the number of its jobs by 3,000 within the job cuts at a head office.

The step is sure to influence its pension fund as new strategy makes contributions lower.

The company has already issued as much as three profits warnings since March. Now it seeks for the ways to slash the pension scheme deficit.

18,000 out of 86,000 members of the company’s pension fund are drawing pensions and the figure is not limited.

“Using the less risky 2000 asset allocation, the deficit would be £451 million, not £161 million...Plugging a £451 million actuarial deficit over 12 years requires a pro-rated annual company contribution of £53 million not £20 million,” said one of the company’s managers.