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.’
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements