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.’
Harrison Beale & Owen will (HB&O) have a new chairman and managing director at the helm for 2017
Satvir Bungar promoted to managing director in the mergers and acquisitions team
Carolyn Brown appointed as the first head of client legal services practice RSM Legal
UK senior partner Phil Verity has been elected for a second term at Mazars