The deal will see the deficit wiped-out within eight years starting with a one-off payment by the firm of £40m next month.
Annual payments of £48m will then start from next April which will be increased each year to take account of inflation.
Balfour Beatty has agreed a deal with its pension fund trustees to fill a funding deficit of £375m in its retirement pot.
The deal will see the deficit wiped-out within eight years starting with a one-off payment by the firm of £40m next month.
Annual payments of £48m will then start from next April which will be increased each year to take account of inflation.