Analysis by consultant Lane Clark & Peacock, found that a jump in pension fund liabilities, due to falling bond yields, largely offset any gains from stock market rises.
Some companies could have seen their pension black holes rise by over 10% last year and the FTSE100 deficit of £55bn was unlikely to have fallen despite returns on shares of about 20% last year.
The firm said FRS17, which offers a snapshot of a company’s pension fund, depends heavily on inflation and corporate bond yields. Both of these indicators did not do as well as hoped last year.
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