UK pension funds of FTSE
100 companies are back in the black with a ?15bn surplus – an improvement of
more than £55bn on the previous year, resulting from pension funding regulation
introduced in 2005, when pensions were in a £75bn deficit.
According to a newly released
study, the surplus was the result of investment returns of about 3.5% over the
year and more cash injections from the employers.
Based on companies’ own expectations for 2008 stock market performance,
Deloitte forecasts the FTSE 100 surplus to have risen to £30bn by the end of
‘Over 2008 companies will be looking to solve their pensions problems for
good,’ David Robbins, a Deloitte pensions partner, said. ‘Options that include
transferring pension schemes to new specialist pension buy-out companies are
beginning to look viable.’
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The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Baldwins Accountancy Group has continued investment in the north-east and appointed David Fish as a director in its corporate finance team