FTSE100 companies 'systematically undervaluing' DB liabilities by 20%

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Investors are adding around 20% to defined benefit (DB) pension liabilities when valuing a company, a study of share prices has revealed.

Llewellyn Consulting's report The Influence of DB pensions on the market valuation of the Pension Plan Sponsor - which used data from 2006-2012 - showed investor valuations of FTSE 100 companies im...

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