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.
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