Pension Capital Strategies Releases FTSE100 Pension Disclosures Report
Pension Capital Strategies (PCS) has released its second quarterly report investigating the pension disclosures of the FTSE100 companies. The FTSE100 and Their Pension Disclosures explores the pension disclosures of the FTSE100 companies, as well as the steps being taken to address pension scheme deficits, and is based on figures disclosed in their most recently published annual report and accounts. Being the second report in the FTSE 100 Pensions Disclosure series, the new report updates the inaugural release from October 2006. The latest report’s findings reveal that the total pension fund deficit in FTSE100 pension schemes as at 31 December is estimated to have dropped to £35bn, an improvement of £25bn over the past 12 months and down from the £46bn revealed in the PCS October report. However, in line with the October report, this latest update continues to suggest that FTSE100 companies are significantly underestimating the impact of future improvements in longevity, which has led PCS to conclude that the total deficit in FTSE100 pension schemes could be more than £100bn.