FTSE-100 publish pensions deficits

The total pensions deficit for the 49 FTSE-100 companies with year ends of 31 December 2001 is around £4bn, allowing for deferred tax, the firm said.

Robert Hails, a partner at Watson Wyatt, said: ‘These end-of-year reports are just now being published and at first sight some will make for gloomy reading.

‘But because FRS 17 is merely a snapshot of pension fund assets and liabilities using a specified approach, one has to question if it is the true picture.’

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