Friday 24 May 2013
Pensions World
The leading source of news and informed comment for pensions professionals since 1972
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EU £450bn Solvency II type pension proposals shelved
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Minister calls for restructuring of local authority pension funds
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One in seven will retire with no pension
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Positive start for bulk annuity market in 2013
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Scottish Widows cannot reclaim nearly £100,000 paid out by mistake
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Pension schemes await crucial Supreme Court ruling on company collapses
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FTSE350 pension deficits rise above £100bn as liabilities reach record highs
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£11bn spent on propping up pension deficits
Despite over £11bn being spent on pensions deficits in 2009, almost a third (32%) of FTSE100 companies cannot ever meet pension scheme deficits from current discretionary cash flow, according to KPMG’s latest pensions repayment monitor.
“At first sight these figures look alarming,” said Mike Smedley, pensions partner at KPMG. “But the key message to sponsoring companies, pension fund trustees and regulators is to maintain a long term view and avoid knee jerk reactions. The most important thing in securing the future of pension provision is to secure the future of the business, not the other way round.”
Author: Pensions World
Pensions World is the leading monthly magazine for pensions professionals published by LexisNexis.
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