Irish pension deficits dwarf market caps

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IRELAND - The 30 largest publicly traded companies in Ireland reduced their pension deficits by €2bn ($2.7bn) in 2010 to €24bn after at least half made changes to promised pension benefits but average deficits continue to outpace market capitalisations, a report by LCP Ireland finds.

LCP said in some cases, companies have implemented significant benefit reductions to bring down costs. However, pension funding is still in the red, with the average deficit running at 17% of marke...

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