Caution over new standard.

Accountancy firms have given a lukewarm welcome to the new pension standard. Some have expressed concerns over volatility and analysts’ understanding. Martin Scicluna, chairman of Deloitte & Touche UK, said: ‘We understand the concerns of those who view the increased balance sheet volatility with concerns and consider it a move away from the key figure – the expected cash outflow required to fund the employees’ pensions.’

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