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04 Mar 2003
A snapshot of the company's final salary pension scheme at the end of December 2002 revealed that its assets exceeded its liabilities by £300,000.
Recently, a survey by Credit Suisse First Boston found that FRS 17 had left FTSE 100 companies with a staggering £77bn aggregate pension deficit, almost equalling their combined profits.
Amongst the FTSE 100, BAE (628%), Rolls Royce (420%) and Pearson (330%) were some of the companies hardest hit.
The news of a pension surplus at British Vita came as the coming announced results slightly better than expectations. Profits climbed to £109.5m on turnover of £893m.
FRS 17 comes into effect in 2005.
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Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
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