BusinessCompany NewsGMB finds FRS 17 deficit

GMB finds FRS 17 deficit

The GMB union has revealed a deficit in its pension provision amounting to £19m as a result of the controversial accounting standard FRS 17.

Link: FDs prepare for pension chaos

Despite the news the GMB has issued statements declaring that it is ‘committed’ to maintaining a final salary pension scheme.

The union has been one of the many critics of companies that ditched final salary scheme once the full implications of the stock market crisis and FRS 17 became clear.

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