Six out of 10 FTSE 100 companies pay too much into their pension schemes but
they could still be facing demands for more cash injection from pension
trustees rattled by the market turnmoil,
latest Pensions Repayment Monitor warns.
The study shows that, despite the market conditions, most of Britain’s top
companies are in a better position than in 2006 to pay off pensions. But market
conditions and recent regulatory guidance on mortality assumptions are likely to
prompt pension trustees to demand more funds.
A study released last week by actuaries Lane, Clark & Peacock showed FTSE
100 schemes had swung into a £41bn deficit last month from a collective surplus
of £12bn this time last year, the Financial Times reports.
However, KPMG found that close to three-quarters of FTSE 100 companies could
cover deficits in a single year using existing discretionary cash flows and
two-thirds were already paying more than they needed over a 10-year period.
Mark McMullen joins the private client services team from Smith & Williamson
Merger between Clear & Lane Chartered Accountants and Magma Chartered Accountants was finalised on 3 February
BDO has taken its new partner intake to 23 during the first half of its financial year, including the appointment of five partners in five weeks
The firm reports 7.6% global fee income growth for the year ending 31 December 2016