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.’
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