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Personnel Today

Pension deficits growing

by Personnel Today 22 Jul 2003
by Personnel Today 22 Jul 2003

Plummeting pension fund assets are being reported by some of the UK’s
largest companies.

Research from Credit Suisse First Boston (CSFB) finds many companies’
pension deficits are now almost equal to their total operating profits. CSFB’s
last survey found 91 of the FTSE 100 companies it surveyed had an aggregate
deficit on their pension schemes of £77bn, equivalent to 93 per cent of their
operating profits last year.

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The deficit among smaller firms was even worse, with an aggregate of £13.1bn
across 161 companies – equivalent to 132.6 per cent of operating profits.
Factors contributing to the pensions ‘crisis’ include the global downturn in
equity markets, accounting regulations and rising life expectancy.  www.irsemploymentreview.com

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Personnel Today

Personnel Today articles are written by an expert team of award-winning journalists who have been covering HR and L&D for many years. Some of our content is attributed to "Personnel Today" for a number of reasons, including: when numerous authors are associated with writing or editing a piece; or when the author is unknown (particularly for older articles).

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