The pension deficits of Britain's biggest companies have deepened over the past 12 months despite the sharp rise in stock markets, new research shows.
The combined pension deficits of companies in the FTSE 100 reached £73bn at the end of April, up from £52bn a year earlier, according to Pension Capital Strategies (PCS), an advisory group that is owned by insurer Jardine Lloyd Thompson. For the FTSE 350, the deficit had increased to £88bn from £60bn.
The projected liabilities of companies' defined pension schemes have outstripped the rise in the value of the assets they hold, thanks in part to an increase in inflation expectations. more...
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