BP is planning to contribute around $1.25 billion to its worldwide defined benefit plans in 2011, Pensions & Investments reports. The U.K. oil and gas company will commit $404 million to its U.K. pension fund from the total contribution.

The London-based company made a $1.29 billion contribution to its plans last year of which, $411 million were for its U.K. plan. BP’s U.K. plan had around $24.2 billion in assets and $22.3 billion in liabilities as of end of last year.

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