Changes to the ITV (ITV.L) pension scheme is unlikely to result in any additional contributions by the broadcaster before 2015.

A £50 million 'longevity swap' announced by the ITV Pension Scheme will mitigate the risk of pensions liabilities if a 'significant proportion' of members live longer.

The commercial broadcaster has entered into a longevity swap contract with Credit Suisse, and will mean an increase of approximately £50 million on an accounting and funding basis.

However, the £50 million contract is to be met by the increasing stake in the scheme of the SDN pension partnership - an ITV subsidiary.

Ian Griffiths, group finance director at ITV, said, 'Over the last couple of years, ITV has made significant progress in strengthening its balance sheet and managing its pension risk.

'This latest initiative is a further significant step in reducing the exposure of our business to legacy pension risk.'

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